Osborne Clarke advises Energyminer on pre-Series A financing round of around EUR 7.5 million

Osborne Clarke has provided legal advice to Energyminer GmbH, an award-winning GreenTech company for baseload-capable clean energy from rivers, on its pre-Series A financing round. To date, commitments totalling around EUR 7.5 million have been made as part of the round (including the conversion of convertible loans); the financing round is structured in several closings, with a further closing in preparation, i.e. the round remains open to further investment. The investor consortium for the first two closings consisted of numerous business angels and further private investors, some of whom invested directly and others via the investment platform Companisto.

Energyminer, founded in 2021 by today’s managing directors Dr Richard Eckl and Dr Georg Walder, develops and operates hydroelectric fleets – novel, hydrokinetic power plants that float in the river, operate almost entirely under water and generate electricity around the clock – locally, on a baseload basis and in harmony with the river biotope. The core component of each hydroelectric fleet is the "Energyfish", a compact individual module that combines with other Energyfish to form a powerful fleet. The technology is designed for high availability, operates silently, is fish-friendly and feeds the electricity generated into the low-voltage grid on a decentralised basis.

With the financing round, Energyminer is laying the foundations to further industrialise its technology, to realise additional hydroelectric fleets in European rivers and thereby significantly expand the company’s contribution to decarbonisation and to the supply of entire communities with clean electricity. On the Rhine near St Goar, the world's first hydroelectric fleet of this scale is currently taking shape: three Energyfish are already in operation, the permit for a total of 124 units have been granted and the installation of the remaining 121 Energyfish is planned for later this year.

The now completed round is structured as a pre-Series A financing and combines investments via Companisto with direct participations of experienced business angels.

Legal advice provided by Osborne Clarke

Osborne Clarke provided Energyminer with comprehensive advice on the structuring and implementation of the pre-Series A financing round. The Osborne Clarke team that advised Energyminer, led by Dr Felix Dörrenbächer and under the partner responsibility of Dr Martin Sundermann, also included Nicolas Schmid.