Court Affirms Bankruptcy Plan of Organization GmbH; Investor Agreement Finalized
In a significant stride towards sustainable transportation, the Munich-based company, Our Organization GmbH, has announced the launch of its innovative solar retrofit solution, the Solar Bus Kit. This ready-to-market product is designed to reduce energy consumption, costs, and CO2 emissions in buses, and can be retrofitted to almost any bus model.
The company, best known for its solar technology, has also 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, the partnership is expected to lead to market entry in Hungary and open up Eastern Europe as a promising potential market for Our Organization GmbH's solar technology.
Jan Schiermeister and Denis Azhar, with extensive experience in the bus, truck, and automotive industries, have taken over as the new Managing Directors of Our Organization GmbH. The duo is spearheading the company's vision to pioneer solar in mobility with the goal of enabling a world without fossil fuels.
While the length of time that Our Organization GmbH continues to operate under self-administration proceedings remains uncertain, the company has secured the Yorkville investment, with the first tranche funded on February 6, 2024. The remaining formal actions for the company's exit from self-administration proceedings are expected to be concluded by February 29, 2024.
The Solar Bus Kit, like Sono Group's disruptive solar technology, can be seamlessly integrated into a variety of vehicle architectures. It is designed to extend range, reduce fuel costs, and decrease CO2 emissions, promoting climate-friendly mobility. Sono Group N.V., on a mission to accelerate the revolution of mobility by making every vehicle solar, has expressed its commitment to solar-based, sustainable transportation solutions, alongside Our Organization GmbH.
For media inquiries, please contact press@ourwebsite or visit www.ourwebsite/press. For investor relations, contact ir@ourwebsite or ir.ourwebsite. Our Organization GmbH believes that its innovative assets position the company for future success and extend its market position in solar mobility.
As the transportation industry continues to evolve, Our Organization GmbH stands at the forefront of solar mobility, aiming to reduce costs, emissions, and reliance on fossil fuels. The company intends to sign additional agreements with resellers in different countries in the near future, further solidifying its commitment to a sustainable future.
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The company's solar technology expansion, as demonstrated by the Solar Bus Kit launch, is not limited to buses but can potentially be applied to other industries, bridging the gap between finance, business, and technology. With the upcoming partnership with Nova-Papír Zrt, Our Organization GmbH is looking to diversify its markets, especially in Eastern Europe, contributing to the growth of its solar business.
