Hamburg-based solar and charging infrastructure company Adler Smart Solutions GmbH is entering insolvency proceedings due to financial challenges stemming from significant project delays, as reported by local law firm Reimer. The district court in Hamburg has appointed Jennie Best from Reimer as the provisional insolvency administrator to oversee the process.
The insolvency has been attributed to setbacks in key projects related to charging infrastructure and photovoltaic systems, leading to “considerable financial bottlenecks,” according to Reimer. Despite these challenges, the firm noted that several investor inquiries have already been received, and Best is actively working to stabilize the company.
Business operations and all ongoing projects are set to continue, with Adler Smart Solutions' approximately 150 employees assured of receiving their wages and salaries during this period. The company specializes in planning, constructing, and operating photovoltaic systems and charging infrastructure for commercial enterprises, retail properties, and residential new construction projects.
Adler Smart Solutions is part of ACE Group, which also encompasses solar park and charging infrastructure developer HMB, as well as fast-charging stations firm Charge Construct.
