Wirelane acquires Eluminocity. In the self-administration proceedings of Eluminocity GmbH, management and the insolvency law firm Pluta have reached an investor solution. Wirelane, a developer of e-charging stations, took over the business operations of the Munich-based startup, along with 13 employees and the entire management, on January 1, 2019.
Eluminocity is an innovative startup focused on developing e-mobility and supporting technology. The young, Munich-based company uses the widespread infrastructure of streetlights as the basis for its proprietary smart city sensor technology and charging stations for electric cars.
“Innovative and groundbreaking for the future of e-mobility”
The company filed for self-administration in 2018. The reason was a lack of interim financing, which led to a liquidity shortage. On January 1, 2019, the proceedings were converted into standard insolvency proceedings. Eluminocity's management has been supported by Pluta in recent months.
"The solutions developed by Eluminocity are innovative and groundbreaking for the future of e-mobility. I am therefore pleased that we have achieved this viable investor solution. Everyone involved has pulled together in recent weeks. Our special thanks go to the motivated employees and management,"
says Pluta restructuring expert Ivo-Meinert Willrodt.
“An ideal addition with high synergy potential”
Wirelane is one of Europe's leading providers of hardware, software, and app-based solutions for electromobility. The acquisition of the Eluminocity charging unit will significantly increase Wirelane's market share in Europe, according to the company. Combined with Wirelane's existing product portfolio, which includes apps, infrastructure management software, billing, and operations and maintenance, the acquisition is intended to position Wirelane as a full-service provider.
Constantin Schwaab, CEO of Wirelane, explains:
"The two companies are an ideal complement with high synergy potential. We now have a unique opportunity to launch operations in a number of new countries and markets. Together, we will develop the most advanced product range in the field of e-mobility infrastructure."
