Vertiv acquires Efficient Energy assets
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.”
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