Frank Asbeck Reclaims Solarworld Brand as 'EB Church Energy Cycle' Fund Launches
Frank Asbeck, the original founder of Solarworld, has reacquired the brand rights. The sale was finalised by insolvency administrator Lucas Flöther, although the specific date remains unknown. Meanwhile, the 'EB Church Energy Cycle' fund, managed by EB - Sustainable Investment Management GmbH (EB-SIM), has initiated its first project: a 27-megawatt solar park in Brunswick, owned by the Protestant Church.
EB-SIM, led by CEO Bernhard Graeber, is supporting churches in their transition to renewable energy. The company aims to be a strategic partner for the social economy and the church in this process. The primary strategy involves investing in renewable energy facilities, with EB-SIM offering project development and green electricity supply services for church-owned properties. The fund, which meets the highest sustainability standards according to Article 9 of the EU Disclosure Regulation (SFDR), is open-ended with an annual redemption option and targets a five percent annual distribution. It focuses on photovoltaic and wind projects related to churches and social welfare, as seen in the planned wind farm with up to 14 turbines and a total capacity of about 100 megawatts.
The reacquisition of Solarworld's brand rights by Frank Asbeck signals a new chapter for the company. Simultaneously, the 'EB Church Energy Cycle' fund, backed by EB-SIM, is actively contributing to Germany's churches becoming climate-neutral, with the first project already underway in Brunswick. The fund's focus on sustainability and renewable energy aligns with the churches' long-term goals, including building a substantial wind farm.
