CORVEL advised the Berlin-based green energy company AUXOLAR GmbH ("AUXOLAR") on a capital round in which Berliner Volksbank eG participated with equity capital in the millions.
Founded in 2018, AUXOLAR is a leading provider of turnkey commercial photovoltaic systems. The company serves the German market with innovative solar products for trade, industry, the housing sector and the social economy. The systems are planned, installed, handed over ready to use and maintained on request for specific buildings.
The strategic partnership with Berliner Volksbank aims to significantly expand and accelerate the availability of AUXOLAR's range of services in the area of commercial photovoltaic systems on the one hand, and to make this range easily accessible to interested commercial and real estate customers of Berliner Volksbank in line with their needs on the other.
The new capital contributed to AUXOLAR by Berliner Volksbank is to be supplemented by further financing instruments, so that a total of more than six million euros will be available to take the steps necessary for expansion: on the one hand by increasing staff at several locations, on the other hand by digitalization.
Berliner Volksbank eG was founded in 1946. With around 225,000 members and a balance sheet total of EUR 18 billion in 2023, it is one of the largest regional cooperative banks in Germany.
CORVEL advised AUXOLAR on all legal matters.
Advisors AUXOLAR
CORVEL (Hamburg): Dr. Felix Brammer (lead), Tobias Brandenburg (all corporate)
Advisors Berliner Volksbank
PXR (Berlin): Christian Juan Ebert, Inga Brill (all corporate)
Hamburg, 25 June 2024