Hogan Lovells Advised Flaxtec on Hyundai’s Investment In Subsidiary Company
Hogan Lovells Advised Flaxtec on Hyundai’s Investment In Subsidiary Company
The move will offer a solution to one of the most pressing problems in the future of renewable energies
Global law firm Hogan Lovells has advised Flaxtec GmbH on investment by the Korean Hyundai Group in Flaxres GmbH, its subsidiary technology company.
The Dresden-based recycling company, Flaxres, is part of the econnext group and specializes in developing environment-friendly recycling solutions for photovoltaic modules.
The technology, based on a ‘flash lamp annealing’ process, is more environment-friendly, cost-efficient and faster than conventional processes that are usually based on mechanical shredding or thermal utilization (pyrolysis).
It offers a solution to one of the most pressing problems in the future of renewable energies.
Several photovoltaic modules, installed during the first wave of solar technology development, have outgrown their life span, with no progressions yet available for a genuine circular economy.
Whereas, with the newly developed method, the composite materials can be separated by type and returned to circulation.
In collaboration with the Korean partner, Flaxres’ technology will recycle end-of-life PV modules worldwide.
Hogan Lovells advised Flaxtec on the cooperation and contractual agreements between Flaxtec, Flaxres and Hyundai. It regularly guides the econnext group and its affiliate companies on transactions and cooperation.
The Hogan Lovells team representing Flaxtec GmbH was led by Dr. Torsten Rosenboom (partner). He was supported by Dr. Marius Rothermund (senior associate), Andreas Thun, Sophie Ulrich (counsels), Dr. Mike Karl Schmidt, Julia Dingeldey, Hannah Wohlfarth (associates), Dr. Matthias Murr (senior associate-corporate/M&A), Prof Dr. Fabian Pfuhl (counsel), Felix Ackermann (associate–IP), Dr. Falk Schöning (partner-antitrust) and Dr. Falk Loose (counsel-tax).
