Insolvent storage manufacturer Kolibri Power renamed Colibri Energy

At the start of June, Kolibri Power began operating under the name Colibri Energy. Via a management buyout – effectively a company reorganization – former board members, Helmuth von Grolman and James Astorian took the energy storage manufacturer over. They are now acting as managing partners, with the majority of the previous company investors remaining involved. The workforce has also been kept on.

Kolibri was forced to file for insolvency after considerable due diligence breaches by then management member, Mirko Hannemann, which led to massive financial damages. The company filed a criminal complaint against Hannemann. According to reports, the financial loss was between €2 million and €5 million.

Colibri reports that despite the ongoing insolvency proceedings, new products are being marketed and existing orders processed, including a 200 kWh battery system for a transport vehicle in Hamburg.

The Germany-based company is not only involved in large energy storage solutions, but also in stationery and small mobile applications. In the past week, it has developed a 1 kWh/48 volt battery. Colibri is further looking to expand its Middle Eastern operations, and is planning to make more deliveries to the region.

Translated by Becky Beetz