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• Blue Elephant Energy AG (BEE) welcomes a new major shareholder. Athos, the family office of the Strüngmann family, will subscribe a € 75 mn private capital increase, making them one of the major shareholders with a 15% stake. In addition, Athos receives an option for a follow up financing in a similar magnitude.
• BEE will continue executing its growth strategy with unchanged dynamics and is very well financed for this purpose.
• As a result, BEE will not pursue the IPO, which was scheduled for the third quarter 2021.

Hamburg, July 7, 2021

Blue Elephant Energy AG (), a Hamburg-based independent operator of solar and wind power plants, welcomes Athos as a new major shareholder. Athos will subscribe a € 75 mn private capital increase and will hold a 15% share in the company. In addition, Athos has an option for another equity investment of up to € 75 mn. As a result, the Executive Board and the Supervisory Board decided to stop the IPO process early, even before setting the price range. The IPO was planned for the third quarter 2021.

Athos is the family office of the Strüngmann family and ranges amongst Germany's most renowned investors. As a long-term oriented investor, Athos focusses on innovation and sustainability in its portfolio. The family office is, inter alia, a majority shareholder in BioNTech SE, in which the Strüngmann family plays a key role since its foundation. 

Felix Goedhart, CEO of Blue Elephant Energy AG, comments: "Athos is the perfect partner for us and fits wonderfully in our entrepreneurial shareholder structure. Now we work together to further implement our growth strategy."

Thomas Maier, managing Director of Athos KG comments: „Blue Elephant Energy AG is very well positioned in the renewable energy markets and is set to further grow strongly. The team is one of the most experienced in the market and we see a great fit with the existing investors.

BEE will continue to realize it growth strategy based upon the three pillars of excellent access to projects, strict investment discipline and optimized operational and commercial management. In addition to the existing funds, another € 75 mn of equity are available for future expansion of the portfolio of solar and wind parks now. These are supplemented by further financing instruments, such as participation rights or the typical project financings at the asset level.

About Blue Elephant Energy AG:
Blue Elephant Energy AG (BEE) acquires and operates Solar Parks and Wind Farms in eight countries with a focus on Western-Europe. Founded in 2016, BEE is currently operating a renewable energy portfolio of 1,107 MW, from which a part is under construction. Until the end of 2020, BEE's renewable energy assets contribute to a sustainable energy supply by saving 956,419 tons of CO₂ annually and providing 711,028 households with clean energy. As part of its ESG strategy BEE directly contributes to social projects on a local level, particularly in Chile and in the Dominican Republic. BEE has secured additional 1,391 MW Solar Park capacity in the context of co-development agreements with a limited range of developers, based on longstanding relationships and mutual appreciation. With equity provided by BEE's shareholders and participation rights capital provided by medium sized insurance companies, BEE has been able to invest well above EUR 1.2 billion since inception.

Contact for Press & Investor Relations:
Blue Elephant Energy AG
Nicolas Tegelmann
Jungfernstieg 51
20354 Hamburg
Phone: 1 65
E-Mail: