The management of Hoeller Electrolyzer GmbH filed an application for the opening of insolvency proceedings with the Schwerin Local Court on March 20, 2024. On the same day, the Schwerin Local Court ordered provisional insolvency administration and appointed Remo Kruse, lawyer at Anchor Rechtsanwälte, as provisional insolvency administrator.

Business operations have not been discontinued and will continue in full. Hoeller Electrolyzer GmbH develops innovative PEM electrolysis stacks under the product name “Prometheus”. In these stacks, water is broken down into hydrogen and oxygen using electricity. They represent the core component of future electrolysis and power-to-X systems. With the development of its patented technology, Hoeller Electrolyzer GmbH has positioned itself as a specialist in the field of highly efficient PEM electrolysis stacks and achieved international relevance. Hoeller Electrolyzer GmbH is aiming to have the product ready for the market within the next few months.

The company's business operations will be continued by the provisional insolvency administrator. The aim is to secure long-term financing and thus maintain business operations on a sustainable basis. “The product developed so far is a promising innovation and the know-how of the company's employees is competitive,” says Remo Kruse, who has been able to gain a first impression of the company and the product over the last few days. “Our prototypes have shown very promising properties in extensive test series at the HyCentA at the University of Graz. We are confident that we will find a strong partner for the step to series production,” adds company founder Stefan Höller.

Hoeller Electrolyzer GmbH has already initiated its search for takeover candidates. The M&A process is being conducted by Centuros Consult GmbH under the leadership of Malte Heesch and Carlos Rodrigues.

The provisional insolvency administrator is being supported by qualified lawyer Jessica Schmechel and Tatjana Krist-Petersohn from the law firm Anchor Rechtsanwälte.