CleanTech startup Efficient Energy GmbH seeks investor and files for insolvency

After talks with potential investors failed, Efficient Energy GmbH has filed for insolvency. Dr. Matthias Hofmann has been appointed as provisional insolvency administrator, while the company will already hold talks with new investors and search for additional backers.

Munich, Germany-based Efficient Energy GmbH, a German manufacturer of energy-efficient and clean chillers, has filed for insolvency. The company was the first in the world to use water as a refrigerant in series production. Preliminary insolvency administration was ordered after promising talks with a strategic investor failed in May 2023. Dr. Matthias Hofmann from the law firm POHLMANN HOFMANN has been appointed as provisional insolvency administrator.

The step into insolvency was certainly not easy for us. We have a technology that has already proven itself on the market and full order books.

Georg Dietrich, CEO Efficient Energy

Efficient Energy GmbH, founded in 2006, specializes in the development of sustainable and safe refrigeration technology that uses water as a refrigerant. With over 200 patents and Bluezero® technology, the company focuses on efficient cooling and uses up to 80 percent less electricity than conventional chillers. Customers include well-known companies such as Siemens, the German Aerospace Center (DLR) and TRUMPF. The company is about to launch the next generation of products, the eChiller45IC, with an expanded range of applications

Employees' wages are secured via insolvency benefits up to and including August 2023. Until then, we will work together to find a solution for the future of the company.

Dr. Matthias Hofmann, Insolvency Administrator

The team led by the preliminary insolvency administrator Dr. Matthias Hofmann is currently preparing the advance financing of the insolvency money to support the approximately 100 employees. Efficient Energy has received several awards, including the European Business Award for the Environment, the G20 Innovation League Cleantech Top 20 and the European Technology Awards.

Even more recently, Efficient Energy announced the transition of its management team. Starting in May, Matthias Adler will take over as the new Chief Sales Officer (CSO). He succeeds Thomas Bartmann, who will take over the strategic representation in politics and society as Market Transformation Executive.