Blackstone Technology will be dismantled

Blackstone Technology, the insolvent German battery division of Swiss commodities company Blackstone Resources, will likely be sold in pieces. So far, no one has shown any interest in taking over the entire production site.

According to German Wirtschaftswoche, 84 creditors have registered claims totalling 16 million euros. To get their money back, said creditors have instructed insolvency administrator Thomas Beck to sell machinery and equipment for the maximum amount possible.

Beck still hopes for a complete sale of the production site in Döbeln, Germany, and sat down for negotiations with “well-known interested parties” regarding a takeover. However, “in the end, no interested party submitted an offer for the Döbeln site,” says Beck.

Blackstone Technology filed for bankruptcy in June 2023. The public prosecutor’s office is also investigating allegations of subsidy fraud. Wirtschaftswoche reported at the time that, for instance, series production of battery cells never took place because the process did not work. Even though the company first announced in December 2021 that it was ready to print 3D LFP cells and set a production target of 500 MWh for 2022.

Still, just saying that Blackstone Technology would be able to 3-D print batteries was enough for investors to come aboard – and for the company to receive more than 30 million euros in subsidies.

wiwo.de (in German)