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m law group advises Doughty Hanson in investment in Odersun AG

15.02.2008

Solar module producer Odersun AG closed its US$ 90m series B financing round
m law group advises Doughty Hanson


Solar module producer Odersun AG, based in the “solar valley” in Frankfurt (Oder), Germany, has successfully closed its second international financing round. The investment volume (including public subsidies granted by the investment bank of the state of Brandenburg, ILB) amounted to more than EUR 61m (US$ 90m). The raised capital will primarily be used for the construction of further production sites. Odersun AG develops and produces thin-film solar cells and modules and further solar applications of any size and power without relying on silicon, based upon copper-indium-disulfid on thin flexible copper tape (CISCut) in a so-called roll to roll process.  

The financing was led by Virgin Green Fund (US/UK) with participation from PCG Clean Energy & Technology Fund (US) and AGF Private Equity (a member of Allianz Group, France), in addition to existing investors Doughty Hanson Technology Ventures (UK) and Advanced Technology & Materials (China).

m law group advised Doughty Hanson on all aspects of the transaction.

The team of m law group acts for Doughty Hanson since its Series A investment in Odersun AG in 2006.

Counsel to Odersun:
Bird & Bird, Duesseldorf and Munich: Dr. Stefan Gottgetreu (Lead, Corporate), Associate: Moritz Petrikowski (Corporate); Wolfgang von Meibom, Dr. Daniela Kinkeldey, Dr. Matthias Meyer (all IP); Dr. Jörg Witting, Shiraz Kutar (both subsidies law); Dr. René Voigtländer; Dr. Hermann Rothfuchs (both environmental and public law); Dr. Martin Nebeling (employment).
Gibson, Dunn & Crutcher LLP, London: US Securities Law: Kenneth Lamb (Lead, Corporate), Dr. Dorothee Fischer-Appelt (also Corporate).  

Counsel to Virgin Green Fund:
GleissLutz, Munich, Frankfurt, Berlin: Dr. Ralf Morshäuser (Corporate, Munich), Dr. Alexander Schwarz (Corporate, Frankfurt), Dr. Burghard Hildebrandt (Partner subsidies law, Berlin), Dr. Matthias Müller, Dr. Christina Gräfin von Schweinitz (both Corporate, Frankfurt), Stephan Meyer (Corporate, Munich), Dr. Arne Ibbeken (IP, Munich), Dr. Thomas Winzer (employment, Frankfurt), Dr. Katja Papenkort (subsidies law, Berlin).

Counsel to Doughty Hanson:
m law group: Rainer Kreifels, Dr. Johannes Maidl, Dr. Florian Anselm (all corporate).

Counsel to PCG Clean Energy & Technology:
Hammonds, Munich: Dr. Michael Hoffmann, LL.M. 8Corporate)

Counsel to AGF:
Inhouse.

Practice Area: Start-up & Venture Capital
Industry: Cleantech