The insolvent German battery cell manufacturer CustomCells has secured a partial rescue through a consortium of investors led by existing backer Abacon. According to Handelsblatt, the consortium also includes Salvia, the family office of Helmut Jeggle, and another capital provider. A takeover agreement was reportedly signed on the evening of July 2, although CustomCells has not yet issued an official statement.
Sources familiar with the negotiations indicate that the transaction price falls in the low single-digit million-euro range. In addition, the new investors plan to commit a further double-digit million-euro follow-on investment to ensure operational continuity and a relaunch of production under the revised ownership structure.
The restructuring centres on the company’s Itzehoe site in northern Germany, which houses both the holding company and its core operational facilities. Under the new arrangement, CustomCells will streamline its workforce to roughly 80 employees—about half of its pre-insolvency headcount of 160. Management changes will accompany the downsizing: former Chief Innovation Officer Jan Diekmann is set to join the executive board, alongside longtime manager Benno Leuthner. Outgoing CEO Dirk Abendroth, previously a member of Continental’s executive board, will step down from day-to-day leadership but remain with CustomCells in an advisory capacity.
CustomCells filed for insolvency in April following financial difficulties triggered by the collapse of its high-performance battery supply contract with air taxi developer Lilium. With the new capital injection, the company plans to sharpen its focus on e-mobility applications—particularly high-power, high-energy-density cells that cater to premium automotive, motorsport, agricultural, off-road and defence segments underserved by larger Asian manufacturers.
Founded in 2012 as a spin-off of Germany’s Fraunhofer-Gesellschaft, CustomCells has been regarded as a pioneer in specialised battery cell development. The revamped financial and management structure aims to position the company for renewed growth in Europe’s fast-evolving electric-mobility market.
Source: Handelsblatt
