Noerr advises on €80 million funding round of Heliatek

Noerr has comprehensively advised the Dresden-based solar enterprise Heliatek on a Series D funding and on the conclusion of a loan agreement with the European Investment Bank (EIB). The total volume – including public subsidies – comes to around €80 million.

The funding consists of equity capital of €42 million, a loan for €20 million and around €18 million in public subsidies. The investors in this funding round, which is one of the largest in the greentech sector over the past few years and was led by innogy SE, also included ENGIE, BNP Paribas and CEE Group as well as the existing investors AQTON SE, BASF Ventures, eCAPITAL AG, High-Tech Gründerfonds, Innogy Venture Capital, TUDAG and Wellington Partners.

Heliatek is the world’s leading manufacturer of organic photovoltaic products. The company was established in 2006 as a spin-off joint venture of Dresden Technical University (IAPP) and the University of Ulm and today has around 85 employees at its Dresden site and the plant in Ulm. The funds now raised serve to set up a manufacturing plant in Dresden.

A Noerr team led by the Dresden partner Sebastian Voigt and the Frankfurt partner Sebastian Bock advised Heliatek on this complex funding round. Noerr belongs to the leading law firms in the field of growth capital/venture capital and regularly assists clients with significant investments, buyouts and financing rounds. Noerr is also involved in furthering startup businesses and together with the DAX companies Henkel and RWE, for example, formed the German Tech Entrepreneurship Center (GTEC), a new foundation platform located at the Berlin ESMT European School of Management and Technology.

Advisors to Heliatek GmbH: Noerr LLP               

Sebastian Voigt (Private Equity & Venture Capital, Dresden), Sebastian Bock (Banking & Finance, Frankfurt, both lead), Dr. Carsten Heinz (Tax, Berlin), Dr. Eckhart Schleifenbaum (Private Equity & Venture Capital, Munich), Prof. Dr. Sebastian Wündisch (IP, Dresden)

Associates: Uwe Brendler, Dr. Romy Nicole Fleischer, Madeline Korb, Philipp Pönitz (all Corporate, Dresden), Dr. Florian Schiefer (Tax, Berlin), Dr. Birthe Werth, Dr. Ivan Zlatanov (both Banking & Finance, Frankfurt)