Crop Energies acquires stake in start-up East Energy

The start-up builds photovoltaic plants in northeastern Germany and uses them to generate green electricity and hydrogen. Now Crop Energies is acquiring 25 percent of the company.

Crop Energies AG has acquired a stake in the Rostock-based start-up East Energy. Crop Energies is acquiring 25 percent of the company's share capital and intends to provide cash contributions and shareholder loans. Both companies are active in the renewable energy sector.

Founded in 2020, the start-up East Energy operates solar parks in northeastern Germany under the "Sun2Grid" brand. The electricity generated by these is used to produce green hydrogen, renewable fuels and heat. With local energy production, the start-up would want to help become independent of fossil raw materials and decouple energy prices from the global market. it says.

For Crop Energies, the investment in East Energy is a step toward implementing its strategic realignment. So far, the company mainly produces renewable ethanol as well as food and animal feed products. In the future, the company also plans to invest more in the defossilization of mobility and industry. "Access to climate-neutral energy is of great strategic importance to CropEnergies," says Stephan Meeder, CEO of Crop Energies. "By jointly building photovoltaic and methanol capacities, we can make an important contribution to energy independence in Germany."