Hogan Lovells advises econnext on € 63 million financing round

Hogan Lovells advises econnext on EUR 63 million financing round

Press releases | 16 February 2022

Led by Frankfurt partner Dr Torsten Rosenboom, international law firm Hogan Lovells has advised econnext on a financing round involving new institutional investors and on its conversion into a public limited company.

As the parent company of six young tech companies, Frankfurt based econnext holding has successfully completed its latest financing round at the end of 2021. With more than 60 million euros, the newly acquired sum from the first and second closing is significantly higher than the target of 50 million euros set in the previous year. The fresh capital serves as growth financing for the subsidiaries and for the further development of existing technologies.

Founded in 2016, the econnext Group is exclusively dedicated to supporting subsidiaries that have a long-term, profitable and scalable positive impact on society and the environment in line with the UN Sustainable Development Goals (SDGs). As the parent company, econnext holds majority stakes in autarq GmbH in Prenzlau (solar roof tiles), ESG Screen17 GmbH in Frankfurt (sustainability screening), GRIPS Energy GmbH in Berlin (renewable energy supply), Lumenion GmbH in Berlin (large-scale energy storage), Circular Carbon GmbH in Würzburg (soil improvement using biochar as a CO2 sink) and FLAXTEC GmbH in Dresden (recycling technology, and more).

Hogan Lovells advised econnext in all negotiations with the old and new investors in connection with the financing round (investment and shareholders' agreement), and provided legal support regarding the conversion into a public limited company.

Hogan Lovells team for econnext

Dr Torsten Rosenboom (Partner), Dr Marius Rothermund (Senior Associate) (both Corporate & Finance, Frankfurt)