The Gera Local Court has ordered preliminary insolvency proceedings for Jenabatteries GmbH. In doing so, the court granted the insolvency petition filed by the company, which specializes in the development and provision of innovative energy storage solutions. The startup had faced sudden financial difficulties due to the abrupt termination of shareholder financing.

(Quote from a press release by Jenabatteries GmbH)

This development at Jenabatteries GmbH came as a complete surprise to us. Shortly after both principal shareholders of Jenabatteries GmbH had confirmed their further financing commitments in writing, our co-shareholder at Jenabatteries GmbH decided to withdraw the shareholder financing that had just been pledged.

We are currently conducting a thorough review of our options.

What is important to us in this context is that Ranft has always fulfilled all of its obligations to Jenabatteries GmbH in full and in accordance with the agreement. 

As before, our primary focus remains on preserving the company and ensuring its continued operation. One possible solution could involve bringing in another co-investor; initial discussions are already underway. We are also currently exploring the possibility of a full acquisition by Ranft.

The Ranft Group’s core business—which remains strong and continues to grow—in the fields of photovoltaic systems and hydroelectric power plants in Germany, Austria, and Italy is not affected by the situation at Jenabatteries GmbH.

Ranft Real Estate, LLC

A company of the Ranft Group