Court Approves Insolvency Plan of Organization GmbH; Investor Agreement finalized
The Munich-based solar technology company, our organization GmbH, has announced significant changes and plans for the future. Jan Schiermeister and Denis Azhar have taken on the roles of Managing Directors, both long-term members of the company's solar mobility journey.
Our organization GmbH, known for its innovative assets, is focusing on the launch of the "Solar Bus Kit" and the development of its proprietary solar technology for a broad range of transportation vehicles. The Solar Bus Kit is a retrofit solar integration product specifically developed for buses, marking a step towards sustainable public transport.
The company has signed an agreement with Nova-Papír Zrt, who will act as the first reseller for the Solar Bus Kit, with an initial sales target of 81 Kits by the end of 2025. This partnership is expected to lead to market entry in Hungary and open up Eastern Europe as a potential market for the company's solar technology.
The reseller relationship with Nova-Papír Zrt is not the only expansion move. The company plans to sign additional agreements with resellers in different countries in the near future, aiming to extend its market presence globally.
However, the company's ability to access the external funding required to successfully restructure its business is another risk factor. The length of time our organization GmbH continues to operate under self-administration proceedings is another factor to consider. In a recent development, the Munich-based company's insolvency and restructuring plan has been confirmed by the insolvency court of the local court of Munich, Germany.
The company, our organization GmbH, remains dedicated to solar-based, sustainable transportation solutions. Sono Group N.V. (OTCQB: SEVCF), a partner company, is on a mission to accelerate the revolution of mobility by making every vehicle solar. Their disruptive solar technology is engineered to be seamlessly integrated into a variety of vehicle architectures, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles.
The companies (our organization GmbH and Sono Group N.V.) express expectations regarding the remaining stages of Sono GmbH's self-administration proceedings. However, readers should not place undue reliance on any forward-looking statements, particularly not in connection with any contract or investment decision.
For the latest information on the company's current situation, insolvency, restructuring details, or future plans, it is recommended to check official insolvency registries, company press releases, or business registries directly.
Our organization GmbH, with its focus on the Solar Bus Kit and proprietary solar technology, is expanding its business in the realm of technology for sustainable transportation. To achieve this, they aim to sign agreements with resellers worldwide, starting with Nova-Papír Zrt in Hungary, and realigning their financial strategy for long-term success in the global market. However, accessing external funding and navigating self-administration proceedings remain important factors that could impact their progress.
