TESVOLT is now an “AG” with an outstanding Supervisory Board

Wittenberg, 2 September 2022 – TESVOLT, a global technology leader for energy storage in the commercial and industrial sectors, has appointed outstanding members to its newly established Supervisory Board as it transforms into an “Aktiengesellschaft” (“AG”, comparable to a public limited company). In taking this step, TESVOLT AG is providing for highly dynamic business growth and further internationalisation. The members selected for the Supervisory Board combine comprehensive expertise in the energy industry, corporate administration and international financing, each bringing extensive experience and excellent networks in these fields.

With the transformation to AG status, the existing directors will be appointed to the Management Board. As CEO, TESVOLT co-founder Daniel Hannemann will take up the role of Chairman. Co-founder Simon Schandert will be responsible for the products and their technical development in his role as CTO. Finance expert Philipp Koecke, who recently joined the company, will be CFO.

Oliver Borrmann was appointed Chairman of the Supervisory Board in the inaugural meeting, and Claudia Thonet Deputy Chair. Johannes Meran and Ralf Christian make up the remainder of the Supervisory Board.

Oliver Borrmann is one of Germany’s most experienced venture capital investors. He is the founder and Managing Partner of bmp Ventures AG, which began investing in TESVOLT in early 2017 with its fund, “IBG Risikokapitalfonds III” of the German state of Saxony-Anhalt. TESVOLT has also secured Ralf Christian, former CEO of the Energy Management division of Siemens, for the Supervisory Board. In his former role, he was responsible for 55,000 employees worldwide and over EUR 12 billion in revenue. He has been a key player in the global energy industry for two decades, with upper management positions at Siemens and GE. Ralf Christian was also involved in the establishment of Fluence Energy, a US-based provider of energy storage system solutions throughout the world. Johannes Meran is Managing Partner and CIO of the Liechtenstein Group, which is owned by the Princely House of Liechtenstein and which made a significant investment in TESVOLT in the most recent funding round, in autumn 2021. Claudia Thonet is the founder and Managing Director of Claudia Thonet Agile Consulting and supports TESVOLT as an expert in organisational development in the context of agile transformation.

Daniel Hannemann and Simon Schandert, board members and majority shareholders in TESVOLT AG: “Following our successful funding round, we are now giving our company the structural basis for further growth. We are proud and pleased to have leading experts on the Supervisory Board to support us on this journey. Their expertise and contacts will give us key impetus for the further expansion of TESVOLT.”