Vertiv acquires Efficient Energy assets
12th September 2023
GERMANY: The patents and other assets of Efficient Energy GmbH have been acquired by Vertiv, owner of Liebert-brand chillers, following the German company’s insolvency.
Efficient Energy, the groundbreaking chiller manufacturer using water as the refrigerant, entered administration on June 2 after the collapse of talks with a potential investor. Insolvency proceedings opened on September 1 at Munich District Court after attempts to find a backer failed.
The company’s patents, which number more than 200, and rights to the technology and individual other assets, were subsequently acquired by Vertiv’s Italian subsidiary Vertiv Srl. The parties have agreed not to disclose the details of the contract with Vertiv Srl.
Vertiv is the former Emerson Network Power business, owners of Liebert-brand chillers and provider of equipment and services for data centres.
Dr Matthias Hofmann from law firm Pohlmann Hofmann was appointed as the provisional insolvency administrator with three months to find a backer. Hofmann had been working with the management consultancy SGP Corporate Finance to find a suitable investor but, despite discussions with a “large number” of possible investors, the company was unable to be saved.
Following the sale, former Efficient Energy MD Georg Dietrich said: “The technology that we have developed with great effort over the past few years will be used by the Italian Vertiv Srl in the future. We firmly believe that this technology has a long future ahead of it.”
Related stories:
Efficient Energy confident of finding an investor – 8 August 2023
GERMANY: The administrator of Efficient Energy GmbH, the German manufacturer of chillers using water as the refrigerant, has indicated that he has a number of potential investors for the firm. Read more…
Efficient Energy in administration – 6 June 2023
GERMANY: Efficient Energy GmbH, the German manufacturer of chillers using water as the refrigerant, has filed for insolvency after a search for a new investor failed. Read more…
Efficient Energy claims first climate neutral chiller – 24 February 2022
GERMANY: Efficient Energy, the German company producing chillers using water as the refrigerant, says it has become the refrigeration industry’s first manufacturer to offer climate neutral chillers. Read more…
Efficient Energy receives further funding – 13 April 2020
GERMANY: Efficient Energy, the chiller manufacturer using water as the refrigerant, has secured a further €11m funding from its investors to expand its laboratory infrastructure and production capacities. Read more…
