After insolvency

Battery storage specialist on the brink of bankruptcy

The number of employees shrank from 25 to two.(Bild: Wenzel Markus)

A lot of money had been invested in the development of the products, and the shareholders also repeatedly injected additional funds - but in the end it was not enough. Following the opening of insolvency proceedings for XelectriX Power GmbH in Mauthausen, the battery storage specialist is now on the verge of going out of business.

XelectriX Power GmbH was founded in Mauthausen in 2016 and began selling mobile battery storage systems in 2020 - two and a half months after bankruptcy proceedings were opened in May 2024, it is clear that nothing is going to happen!

The end of May should be the end for good
The company has shrunk from 25 employees to just two. Trustee in bankruptcy Peter Shamiyeh will probably close the business completely at the end of May and then sell off the inventories, vehicles and operating equipment. Claims amounting to 4.5 million euros have been recognized so far. "The creditors can expect a rate in the single-digit percentage range," says Petra Wögerbauer from Kreditschutzverband 1870.

The idea was a good one
Reasons for the financial difficulties? Although XelectriX's product was very innovative and the idea was good, the implementation and thus the transformation from a start-up to a company was ultimately not crowned with success. In addition to quality problems, there were also problems with suppliers and high costs.