Kohl Clean Technologies GmbH, Merzig, has taken over the majority share of TimberTower GmbH, Hannover. Network Corporate Finance advised the private investors and the management of TimberTower GmbH in the course of the transaction.
Transaction
Kohl Clean Technologies GmbH takes over the majority share of TimberTower GmbH. The investment of Kohl Clean Technologies GmbH owned by Prof. Edwin Kohl allows TimberTower to push product development further.
Company
TimberTower GmbH will erect the first multi megawatt wind turbine on a wooden tower worldwide in Hanover (Marienwerder). Vensys Energy AG as a manufacturer of gearless wind turbines supplies a 1.5 MW turbine that will be in use in spring 2012. After 4 years of work TimberTower finally took the last permission hurdles.
Now the product is on its way to serial production. Using wood enables higher towers and a longer lifespan of the tower. In addition, wood as a renewable resource increases independence from steel prices and helps reducing the power production costs by wind energy.
For additional information on TimberTower GmbH:
www.timbertower.de
