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Investors on Board!

Austrian based xelectrix Power GmbH, one of the technological leading and most innovative manufacturers, designers and developers of Energy Storage Systems is delighted to announce the successful completion of a strategic investment agreement with Lansdowne Investment Company Cyprus Ltd (“LICC”) and Tansanit Stiftung (“Tansanit”).

LICC is an investment fund managed by Lansdowne Partners Austria GmbH, which is an Austrian Alternative Investment Fund Manager with a strong focus on investing in and fostering European innovation. Tansanit is a private investment vehicle that also seeks investments in Europe’s next generation and best of breed technology platforms.

xelectrix Power was founded in 2016 as a battery storage company by two brothers, Alexander and Dominik Hartl, who were later joined by their cousin Christian Deutschbauer in 2018.

The initial idea of hybridization of diesel generators was born out of first-hand experience with diesel generators, which are often very uneconomical to operate and can increase operating costs dramatically. This experience led to the original concept and subsequent production of Energy Storage Systems that can hybridize generators on a plug-in concept that leads to significant fuel reduction, maintenance cost savings and lower fuel emissions.

The product range has now been developed to provide solutions in ON- and OFF- Grid applications. xelectrix Power currently caters to a variety of industries including construction, alternative energy, e-mobility, energy providers, grid operators and the opportunity set continues to grow.

The investment proceeds will be used to fund planned expansion of xelectrix Power, which is an extremely positive development for the company, especially at a time when many companies are contracting due to the social and economic impacts of COVID-19.

Commenting on the investment, Dominik Hartl said: “Our new partners and company shareholders will provide the necessary financial support and backing for the significant growth plans we have envisioned for xelectrix Power. We are very proud to have such a strong commitment from such qualified investors who bring with them many years of international expertise from multiple industries. We are particularly looking forward to leveraging our combined synergies to achieve our common vision of making xelectrix Power one of the leading global players in this fast growing industry.”

The shareholdings in the company upon registration of the capital increase will see the new investors holding 49% and the original shareholders holding 51%.

The company will remain under the close management of Alexander Hartl (Development & Production) and Dominik Hartl (Sales & Marketing) and will also be supported by Christoph Trentini who will assume the role of Senior Financial Advisor.

The parties have agreed not to disclose further details of the investment.