Numbat files for insolvency: Downturn in e-mobility, lack of capacity utilization

The specialist for buffer storage fast chargers, Numbat from Kempten in Allgäu, has unexpectedly filed for bankruptcy. Great efforts had been made to get the company back on track, but this could not be realized "due to market conditions and technical challenges within the available time," said Martin Schall, CEO and Co-Founder.

"This has led us to now organize our continuation and restructuring within a bankruptcy proceeding."

Despite many partnerships, customers, and investors, the ambitious goals could not be achieved and a crisis situation emerged in which continuing Numbat GmbH in the planned form was no longer possible. The business areas Numbat serves are fundamentally in demand: fast charging stations for electric cars as a future market, as well as the digital advertising screens that are well accepted in the advertising market, "however, the utilization of the charging infrastructure is still too low today and we have not managed to timely address technical challenges."

For Numbat, this particularly means that the uptake of electric cars, which require a public charging station, is not growing as quickly as expected, and the numbers are falling short of expectations. At the same time, the approval processes regarding building permits and other applications delayed the roll-out within the planned time frame. The well-known capital round of 140 million euros in the market was intended for a project company and specifically for equipping with Numbat systems and their installation. All services and programs of Numbat, such as charging electric cars or the use of advertising screens, continue to operate. Together with the provisional insolvency administrator Dr. Robert Saam, the strategic options and opportunities for Numbat GmbH would be newly analyzed and assessed.