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20 March 2024
press release

Austria: Schoenherr advises neoom on structuring its customer financing scheme and project debt financing arranged by Solas Capital

Schoenherr provided comprehensive legal advice to Austrian green tech scale-up neoom on the structuring and implementation of its "impact invest" customer financing scheme as well as related project debt financing in an amount of up to EUR 30m arranged by Solas Capital. The financing enables neoom to offer its customers long-term instalment purchase contracts for equipment related to decentralised energy projects, thereby improving the accessibility of energy efficiency and self-consumption PV technology for neoom's clients in Austria and Germany. Schoenherr acted as lead counsel to neoom on all aspects of this transaction. 

"Our collaboration with neoom in this transaction is another example of our commitment to promoting energy transformation and sustainable financing," said Schoenherr partner Martin Ebner. "Congratulations to neoom on taking an important step towards a more sustainable future."  

"Advising neoom on this project underscores our capacity to design and implement tailor-made financing structures also in the green space," Schoenherr attorney Michael Schmiedinger added. "This will become even more important in the future." 

neeom is a multi-award-winning clean tech scale-up company operating in the DACH region that has developed comprehensive hardware, software and digital services solutions for decentralized behind-the-meter applications for private and commercial customers, with the aim of introducing scalability and standardization to what is currently a highly individualized and fragmented market. By working with more than 300 local and independent installation partners, they deliver and install over 1,000 fully integrated systems per month that help end customers benefit from the revolution of clean renewable energy. By delivering a complete range of market-leading carbon-reducing hardware and software neoom hopes to save more than one gigaton of CO2 equivalents, becoming the first ‘Gigacorn’ in the industry.  

Solas Capital is a specialist investment advisory firm founded and managed by professionals from the energy efficiency financing sector and based out of Zurich, Munich and Dublin. Through the development of innovative financing solutions Solas Capital’s mission is to support the move to a carbon-neutral society. By understanding both the funding needs of energy efficiency project developers and the requirements of institutional investors, Solas Capital bridges the funding gap between investors and projects. Solas Capital is the investment advisor to the Solas Sustainable Energy Fund ICAV, which is supported by the Munich Re Group, the European Investment Bank, and the LIFE Programme of the European Commission. 

The Schoenherr team was co-led by Martin Ebner (partner), Christoph Moser (partner) and Michael Schmiedinger (attorney at law) and further consisted of Marco Thorbauer (partner), Nikolaus Müllner (associate), Viktoria Stark (associate), János Böszörményi (attorney at law) and Florian Terharen (associate).

Linklaters LLP (Frankfurt) acted as lead counsel to Solas. On local law aspects, Solas was advised by Binder Grösswang Attorneys at Law.