Econcern

Econcern was an international holding company, consisting of five operating companies: Ecofys, Evelop, Ecostream, Ecoventures and OneCarbon. These companies delivered solutions for renewable energy (solar energy, wind energy, bioenergy) and carbon credits, with a mission to "ensure a sustainable energy supply for everyone".[1] Econcern employed 1,200 professionals in over 20 countries across the world.

Econcern was ranked No. 234 in Europe’s top 500 listing of high growth, job-creating companies in 2007[2] and was named ‘Business of the Year’ at the CMS European Business Awards in 2008.[3]

Bankruptcy

In May 2009 Econcern filed for Dutch Chapter 11 for suspension of payments, the first step towards bankruptcy, after it failed to agree on refinancing terms on a €150 million corporate loan which matured on 1 April 2009. An administrator was appointed by a Dutch court to work with the board to try to identify new financing solutions.[4] At stake were assets under development, such as the Belwind and Gode Wind I offshore wind farms, as well as operational assets, such as Q7. The company went bankrupt in Q3 2009.

References

  1. ↑ "Econcern". Econcern. Retrieved 2009-04-12.
  2. ↑ "Business Week page". Business Week. Retrieved 2009-04-12.
  3. ↑ "2008 winners BAE". Business Awards Europe. Retrieved 2009-04-12.
  4. ↑ "Econcern file for bankruptcy". Reuters. 2009-05-26. Retrieved 2009-08-03.


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