Insolvent Moove GmbH reorganizes into Cubonic

In Germany, after the Aachen-based Moove GmbH (formerly e.Go Moove GmbH) recently filed for insolvency, the provisional insolvency administrator Dirk Wegener succeeded in presenting a viable reorganisation concept for the company that specializes in electric shuttles, to the Aachen District Court.

With the restructuring concept only four weeks after the insolvency application, the company says it was thus possible to apply for the opening of insolvency proceedings. The transfer of operations from Moove GmbH to the newly founded Cubonic GmbH took place on 22 November 2022.

With the support of the previous shareholder Mitenyi Biotec, the company is thus “making a new start in the implementation of new approaches for electric, automated and networked solutions for the transport of goods and people”. According to earlier information, the sticking point for the insolvency application was a financing round that had been started but could not be completed on time – “which led to payment difficulties”.

The managing director of the new Cubonic GmbH is Günter Butschek, who had already been CEO of Moove GmbH since April 2022. “The new start to begin series development and industrialisation is a strong signal to our workforce and partners that we are now entering the home straight and need to mobilise all our forces,” Butschek now says in the latest announcement.

“We need innovation for future resource-saving and attractive mobility and transport systems and the dedicated team deserves a second chance!” says Stefan Miltenyi, Managing Director of Miltenyi Biotec, Bergisch Gladbach.

Source: Info via email