• Blue Elephant Energy AG (BEE) welcomes a new major shareholder. Athos, the family office of the Strüngmann family, will subscribe a € 75 mn private capital increase, making them one of the major shareholders with a 15% stake. In addition, Athos receives an option for a follow up financing in a similar magnitude.
• BEE will continue executing its growth strategy with unchanged dynamics and is very well financed for this purpose.
• As a result, BEE will not pursue the IPO, which was scheduled for the third quarter 2021.
Blue Elephant Energy AG, a Hamburg-based independent operator of solar and wind power plants, welcomes Athos as a new major shareholder. Athos will subscribe a € 75 mn private capital increase and will hold a 15% share in the company. In addition, Athos has an option for another equity investment of up to € 75 mn. As a result, the Executive Board and the Supervisory Board decided to stop the IPO process early, even before setting the price range. The IPO was planned for the third quarter 2021.
Athos is the family office of the Strüngmann family and ranges amongst Germany's most renowned investors. As a long-term oriented investor, Athos focusses on innovation and sustainability in its portfolio. The family office is, inter alia, a majority shareholder in BioNTech SE, in which the Strüngmann family plays a key role since its foundation.
Felix Goedhart, CEO of Blue Elephant Energy AG, comments: "Athos is the perfect partner for us and fits wonderfully in our entrepreneurial shareholder structure. Now we work together to further implement our growth strategy."
Thomas Maier, managing Director of Athos KG comments: „Blue Elephant Energy AG is very well positioned in the renewable energy markets and is set to further grow strongly. The team is one of the most experienced in the market and we see a great fit with the existing investors.
BEE will continue to realize it growth strategy based upon the three pillars of excellent access to projects, strict investment discipline and optimized operational and commercial management. In addition to the existing funds, another € 75 mn of equity are available for future expansion of the portfolio of solar and wind parks now. These are supplemented by further financing instruments, such as participation rights or the typical project financings at the asset level.
