Clean Mobile AG announces follow-up financing in the amount of 7.7 Million Euro and strategic cooperation with iwis, the world market leader for innovative, on budget control drive systems
Clean Mobile AG, based in Unterhaching (Munich area) today announces the completion of a B-series financing in the amount of 7.7 million Euro. The technological leader in the field of hybrid electric drives for the LEV market sells manifoldly patented drive trains through leading vehicle manufacturers to commercial and private users.
The company has developed proprietary technologies around the entire drive train, including highest efficiency battery management systems, optimized drives and integrated vehicle management systems, performing an outstanding plug to wheel efficiency.
The existing investors Earlybird Venture Capital, Capital-E, High-Tech Gründerfonds and SVTG Silicon Valley Technology Group are joined by the iwis Group-Joh. Winklhofer Beteiligungs GmbH & Co. KG in this follow-up financing round. iwis acquires an approximately 10 Percent stake of Clean Mobile AG and furthermore is appointed production partner for Clean Mobile’s innovative electric drive trains.
The cooperation creates significant synergetic effects for both companies. Clean Mobile receives access to iwis’ global marketing and production networks, consisting of renowned automotive manufacturers and industrial enterprises whereas iwis takes a major step towards e-mobility.
“We are looking forward to the partnership with iwis and are delighted about the ongoing trust and confidence expressed by the existing investors. This financial round secures Clean Mobile’s further development and expansion and provides the means for a successful market entry of our revolutionary high performance ‘Harmonic Chain Drive’ drive line designed for e-bikes and pedelecs”, comments Werner Gruber, CEO and co-founder of Clean Mobile AG.
“Clean Mobile has developed the most comprehensive portfolio of drive technologies for LEVs. Adding the production capabilities and market access of iwis, we are confident to offer the most competitive drive solutions for e-mobility in the market”, explains Johannes Winklhofer, Managing Partner at iwis.
“The iwis Group is world market leader for innovative, cost-efficient drive control systems based on precision roller chains. With this strong partner, Clean Mobile is excellently positioned for the rapidly developing e-mobility markets and we are very confident about the company’s further national and international expansion”, says Wolfgang Seibold, Partner at Earlybird.
iwis supplies nearly all automotive manufacturers worldwide with around 38.000 drive train control systems per day from its two German-based factories. Besides the automotive industry, the company also provides precision roller chains for mechanical and plant engineering on a global scale.
iwis has been a family business since 1916 and is now managed by the family in the fourth generation. The company employs over 1,000 employees at 45 locations worldwide and aims for 260 million Euro revenues in 2011.
About Clean Mobile
Clean Mobile is the leading provider of highly efficient drive train systems for light electric vehicles (LEVs). Supported by more than 100 patents and patent applications, Clean Mobile’s drive trains offer commercial and private users superior driving performance, driving range and battery lifetime. Clean Mobile’s drive trains are marketed to leading OEM vehicle manufacturers worldwide. Founded in 2006, the company is located near Munich, Germany, and employs 30 highly skilled professionals.
iwis is the market leader for innovative and cost-effective timing chain systems based on precision chains. Every working day a total of some 38,000 systems leave the iwis plants in Munich and Landsberg am Lech, destined for almost all of the world’s leading automakers. Along with the automobile industry, iwis also supplies precision roller chains for the global machinery and plant & equipment sectors. Applications include the paper and printing industries, the packaging industry, conveyor technology, general mechanical engineering and the agricultural machinery industry. A family firm founded in 1916 and currently managed by the fourth generation, iwis has a global workforce of over 1,000 employees. For 2011 the company is targeting sales of EUR 260 million. Along with production facilities in Germany (Munich, Landsberg, Wilnsdorf and Sontra), as well as in the Czech Republic, China and the USA, iwis also has branches in many countries in Europe and overseas, including Brazil, Canada, France, India, Italy, Korea, South Africa, Switzerland and the UK. In all, the company maintains a presence at 45 locations around the world. iwis is today firmly established among the ranks of the most successful family firms. The company’s above-average investments in research and technology safeguard its continuing ability to supply innovative and customer-specific solutions.
Earlybird Venture Capital is one of the most successful European venture investors. Currently, Earlybird manages 430 million Euro of assets for an international investor base. Earlybird invests in innovative, fast growing companies, with outstanding management teams and high growth potential on international markets. Earlybird’s portfolio currently includes 26 companies in eight countries (Germany, Switzerland, Austria, UK, USA, Italy, France and the Netherlands). Since its inception, Earlybird has invested in over 70 companies. Besides several successful trade sales Earlybird has led six companies to an IPO at four different European exchanges (Interhyp, Tipp 24, Wilex, Esmertec, entelos, and NoemaLife). Further information is available at www.earlybird.com. Read our blog https://blog.earlybird.com/, follow us on Twitter: EarlybirdVC or become a friend on Facebook: Earlybird Venture Capital.
Capital-E is an early stage venture fund focused exclusively on micro- and nano-electronics as well as new materials related ventures in Europe. We help initiate and grow businesses with venture capital, sound advice and access to a broad industry network and research ecosystem. Through its entrenched relationship with IMEC, the largest independent research centre in micro- and nano-electronics in Europe, the fund and its ventures can directly rely on the support of over 1,600 specialised scientists and engineers, as well as leverage on IMEC’s 500+ worldwide industrial partners such as NXP, Infineon, STMicroelectronics, Intel, Panasonic, Texas Instruments, Samsung and TSMC to speed-up the process of market entry. The fund is managed by an independent team with a balanced mix of entrepreneurial, industrial and VC experience. Capital-E is supported by the European Commission ETF Start Up Facility under the multi-annual programme for enterprise and entrepreneurship.
More information can be obtained at www.capital-e.com.
About High-Tech Gründerfonds
High-Tech Gründerfonds invests venture capital into young, high-potential technology companies that convert promising research results into successful businesses. The seed financing provided aims to enable start-ups to take their R&D propositions to the development of a prototype, proof of concept and possibly market launch. High-Tech Gründerfonds initially invests an amount of EUR 500,000 and can invest up to a combined total of two million Euros per company in subsequent financing rounds. Investors in this public/private partnership are the German Federal Ministry for Business and Technology (BMWi), the KfW Banking Group as well as the six industrial companies BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss. High-Tech Gründerfonds has approximately 272 million Euro under management.
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