Econnext Advances Sustainability Ventures Through New Financing

Author: Dylan Bailey Updated: 09-12-2024 05:58 AM

Econnext Leverages New Financing for Growth

Econnext is embarking on an exciting journey of growth with significant new financing from a consortium led by a prominent Anglo-Saxon investment bank. This infusion of capital, amounting to mid double-digit millions, is set to empower the ClimateTech holding company to expand its operations and take steps toward international growth.

Synergistic Opportunities for Decarbonization

The focus of econnext is to create substantial synergy effects and decarbonization opportunities across various sectors including industrial, agricultural, real estate, and transport. These sectors are known to contribute around 80% of the world’s carbon emissions. By capitalizing on innovative business models and technologies, econnext is positioning its group of companies to attract esteemed commercial clients and strategic partners alike.

Vision and Commitment

The co-founders of the company, Michael Schneider and Jobst von Hoyningen-Huene, emphasize the significance of this financing. They express that it is a vital component in the continuous development of the econnext group, reflecting a shared commitment to sustainability and innovation.

Milestones Achieved by Subsidiaries

As part of its growth narrative, econnext has subsidiaries such as Autarq, Circular Carbon, and LUMENION reaching noteworthy milestones. For instance, Autarq has recently celebrated the production of its millionth solar roof tile, marking an important achievement in solar technology.

Expanding Footprints: Circular Carbon and LUMENION

Circular Carbon is exploring new locations in Germany and internationally, working collaboratively on several basic engineering projects with leading customers. Additionally, LUMENION is focused on the timely launch of a large 20 megawatt-hour high-temperature storage facility, aimed at revolutionizing energy storage in northern territories.

About econnext AG

Founded in 2016, econnext AG stands at the forefront of ClimateTech innovation. It serves as the parent company of a diverse array of companies that target decarbonization and promote circular economy principles. Econnext AG maintains majority stakes in several entities including Autarq GmbH, which focuses on solar roof tiles, Circular Carbon GmbH that specializes in carbon capture and renewable heat technology, and LUMENION GmbH, recognized for its advances in energy storage solutions.

Econnext remains committed to leading sustainable initiatives and enhancing its portfolio with impactful technological advancements in the climate sector.

Frequently Asked Questions

What type of financing did econnext secure?

Econnext secured mid double-digit million financing from a consortium led by an Anglo-Saxon investment bank.

How will the new financing impact econnext?

The financing will enable econnext to scale up its operations and internationalize its subsidiaries.

What sectors does econnext operate in?

Econnext operates across various sectors including industrial, agricultural, real estate, and transport, targeting decarbonization efforts in these areas.

What milestones have econnext subsidiaries achieved?

Subsidiaries like Autarq have produced their millionth solar roof tile, while Circular Carbon is evaluating new locations for projects.

When was econnext AG founded?

Econnext AG was founded in 2016 and has been committed to advancing ClimateTech since its inception.

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