Tubesolar Files for Insolvency, Administrator Seeks M&A Solutions

• Tubesolar AG, a flexible perovskite developer, has filed an application for insolvency proceedings and appointed an administrator to initiate a M&A process. With a EUR 4.68 million capital increase in 2022, the company is continuing operations with assured salaries for its 140 employees.

Flexible perovskite developer Tubesolar AG has filed an application for the opening of insolvency proceedings with the Augsburg District Court, appointing Georg Jakob Stemshorn from law firm Pluta Rechtsanwalts GmbH as insolvency administrator. The administrator will initiate a M&A process to find a suitable investor for the company and the business operations will be fully continued. Tubesolar, founded in 2019, specialises in the development and production of photovoltaic thin-film tubes and raised EUR 4.68 million in a capital increase in 2022. Salaries of the company's about 140 employees are secured for three months through insolvency benefits.

Is Tubesolar AG Seeking an Investor?

• Tubesolar AG is actively seeking an investor as a result of the insolvency proceedings.
• The M&A process is being managed by law firm Pluta Rechtsanwalts GmbH, which has appointed Georg Jakob Stemshorn as the insolvency administrator.
• The administrator will work to find a suitable investor for the company, in order to ensure its future and protect its 140 employees, who have been guaranteed salaries for three months through insolvency benefits.
• The company, founded in 2019, specializes in the development and production of photovoltaic thin-film tubes and raised EUR 4.68 million in a capital increase in 2022.
• It is hoped that a potential investor will be able to continue the company's operations and maintain employment of the 140 employees.