Q Cells becomes majority owner of energy platform provider Lynqtech
Post date: 21/07/2022 - 14:29
Lynqtech GmbH, a German provider of digital cloud platforms for the energy industry, has a new majority owner in Hanwha Q Cells GmbH, a subsidiary of Korean Hanwha Group. Lynqtech, which was founded in 2020, was previously a subsidiary of the Hannover, Germany-based municipal energy service provider Enercity AG, but now Q Cells has acquired 66 percent of the company for an undisclosed price. However, the company’s independence is to be preserved. According to Q Cells, Managing Director Mandy Schwerendt will remain in her post, as will all other employees.
From the outset, the aim was »to bring a co-investor on board with Lynqtech,« according to a statement from Enercity. Q Cells, for its part, said it would manage its energy trading business through Lynqtech in the future and »drive the linking of digital processes for its existing customer business.«