Lightyear, maker of ultra-efficient electric car technology, has completed a restructuring and restarted its activities. The company will continue with a team of around 100 people and has raised sufficient investments to continue its mission towards clean mobility.
Lightyear will focus on developing an affordable solar car: the Lightyear 2. Receiver Reinoud van Oeijen indicated he is satisfied with the outcome: “It was a complex issue we were facing with many stakeholders. Fortunately, the restart has been achieved within a reasonable short period of time and everyone now has clarity.”
Lex Hoefsloot, CEO and co-founder, noted: “I am very happy that we managed to complete the restructuring, which we believe is in the interest of the sustainable success of Lightyear, taking into account the interests of its stakeholders. The whole team and many of our stakeholders have worked hard to make this possible. I would like to explicitly thank all of them.”
The Lightyear team will continue with clear priorities. In the coming months the focus will be on developing the Lightyear 2 at an affordable price and to raise additional funding for the next steps in the development of Lightyear 2 and its highly efficient technology.
The restart of Lightyear was made possible by current investors. Arnoud Aalbersberg represents the Impact Investor Group (IIG) that raised the required investment: “As a concerned investor, I stood up in early February to safeguard the interests of individual investors. That same group also made the restart financially possible. We succeeded!” Lightyear’s largest investors (SHV, DELA, Eikenbosch Holding, Invest-NL, BOM, and LIOF) also facilitated the restart by contributing Lightyear’s intellectual property to the restructured company.
One of the first investors in Lightyear, Clemens Schlettwein states: “I am impressed by the work done by the many private and public investors, ambassadors, supporters, Lightyear team members, and founders in these challenging past months. Moreover, I am proud that we are continuing today on the road to realizing the Lightyear mission: creating ultra-efficient solar cars that make clean mobility possible for everyone, everywhere.”
The operating company of Lightyear was declared bankrupt in January. Today, the parent company of Lightyear, Atlas Technologies Holding, followed suit. This step was necessary to complete the restructuring of Lightyear as a new company. The IP and the team of the solar panel division, a subsidiary of the Holding, will become part of this new company.