elvah files for insolvency and initiates investor process to secure the company’s future

elvah files for insolvency and initiates investor process to secure the company’s future

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● elvah has filed for the opening of insolvency proceedings
● Services and operations continue as usual
● Preliminary insolvency administrator is reviewing investor options

elvah GmbH has filed for insolvency with the District Court of Essen. The aim is to continue the company as part of a structured investor process. The court has ordered preliminary insolvency administration and appointed Düsseldorf-based attorney Dr. Gregor Bräuer, partner at the commercial law firm Streitbörger, as the preliminary insolvency administrator. He is reviewing options for an investor solution together with the company's management.

Business operations will continue as usual during the insolvency proceedings. There are currently no changes for customers or partners. Both elvah Hub and the E.ON Drive Comfort app will remain available for the time being. elvah provides data-driven analytics for the public charging market. Services include market analyses on utilization, pricing, and user behavior. In addition, elvah develops and runs software solutions for public charging stations.

“elvah has an experienced team and an established technology platform. These form a solid foundation for continuation with a strategic partner,” says Dr. Bräuer.

“We are committed to finding a sustainable solution for the company as part of the proceedings,” says Gordon Thompson, Managing Director of elvah.

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About elvah: elvah develops data-driven solutions for the public charging market and supports customers with analytics and software solutions for the expansion and operation of charging infrastructure.

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Press contact
Lara Kulpok
press@elvah.de

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To support the structured investor process, Capital Value Management GmbH (CVM), an experienced and highly qualified corporate finance and M&A advisory firm, has been mandated. CVM has a strong track record in supporting complex transactions and challenging corporate situations. Interested parties can contact elvah-prozess@cvm-gmbh.de directly for further information.

The elvah product portfolio can be viewed here.

CVM
elvah-prozess@cvm-gmbh.de

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