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04/22/2021

Bio‑Hybrid continues search for investors under insolvency law protection

Bio‑Hybrid Passenger PICK-UP
  • Bio‑Hybrid mobility start up files for insolvency with Nuremberg district court
  • Business operations will continue within the scope of the petition for initiating insolvency proceedings
  • Bio‑Hybrid continues negotiations with potential investors
  • Objective is a successful restructuring of the start-up

Bio‑Hybrid GmbH yesterday filed a petition for insolvency on its own behalf.  The Nuremberg insolvency court has appointed Dr. Hubert Ampferl, an experienced restructuring expert from the law firm Dr. Beck und Partner, as the preliminary insolvency administrator. Business operations will continue seamlessly within the scope of the insolvency petition proceedings.

The senior management and the appointed preliminary insolvency administrator intend to continue the previously initiated restructuring process and to complete it successfully by the beginning of July. Bio‑Hybrid GmbH is continuing its negotiations with potential investors in order to complete the development of the Bio‑Hybrid and to bring the innovative pedelec to market. 

“In recent months, many national as well as international investors have indicated their interest in an investment. Final discussions have been delayed on account of the COVID 19-related restrictions, which resulted in the future financing of the start-up no longer being secured,” says Gerald Vollnhals, Managing Director of Bio‑Hybrid GmbH. As before, he added, there is great interest in the Bio‑Hybrid, so the company is continuing its work at full stretch and is confident that a good solution with a new structure for Bio‑Hybrid GmbH can be found with a little more time.

As before, the Bio‑Hybrid can be ordered with a down payment of 490 euros. Customers will incur no risk because the down payment will be returned to them in the event that no delivery is made.

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Bio‑Hybrid continues search for investors under insolvency law protection

 

Photo credits: Bio‑Hybrid GmbH

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About Bio‑Hybrid GmbH

Bio‑Hybrid GmbH is a German tech startup that rethinks and sustainably shapes the future of mobility. For less smog, more smartness and more quality of life. With a team of some 30 members at its Nuremberg and Munich locations, the company is preparing for the production launch of the canopied Bio‑Hybrid pedelec. In its DUO, Cargo BOX and Cargo PICK-UP up versions, the new mobility concept closes the gap between bicycles and cars. The Bio‑Hybrid idea was presented by Schaeffler in 2016 as a vision for personal mobility in urban areas. In November 2017, the automotive and industrial supplier established Schaeffler Bio‑Hybrid GmbH in order to develop the Bio‑Hybrid to production level. Following its sale, the company has been operating under the umbrella of meisterwerk ventures GmbH outside of the Schaeffler Group since October 2020.

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Contact

Jakub Fukacz
Director Marketing & Communications
Bio‑Hybrid GmbH, Nürnberg
M +49 151 201 320 82
jakub.fukacz@bio-hybrid.de

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