German developer ABO Wind has completed its change of legal structure from a stock corporation (AG) to a partnership limited by shares (KGaA) and changed its company name to ABO Energy.
As stated in an ad-hoc announcement, the new company ABO Energy GmbH & Co KGaA was entered into the commercial register of the Wiesbaden District Court today.
The shareholders approved the change of legal form from AG to KGaA at an Extraordinary General Meeting on 27 October 2023 with a large majority of 87%.
The Managing Board and Supervisory Board had proposed the change of legal form in order to preserve the formative influence of the two founders Jochen Ahn and Matthias Bockholt, on company decisions and corporate culture in the event of future capital increases.
While considering the new legal form, the company also reassessed its name. The project developer said it had outgrown the name “ABO Wind” some time ago and “ABO Energy” better reflects the international focus and expertise in four technologies of the energy transition – wind, solar, storage and hydrogen.
The resolutions of the General Meeting in October 2023 could not be implemented immediately due to a legal challenge. The General Meeting in April 2024 was still held as ABO Wind AG.
The company then submitted all the necessary documents to the Wiesbaden District Court, which has now entered the new name in the commercial register. Most of the international subsidiaries are already called ABO Energy.
“We are very pleased that we can now begin a new chapter in our company history as ABO Energy KGaA,” said managing director and founder Ahn.
Dr Ahn added: “With our pipeline of 23GW across technologies and an additional 20-gigawatt hydrogen pipeline, we are very confident about the future.
“Our business model and, above all, our values will not change. This is our promise to everyone who works with and for us.
“As ABO Energy, we look forward to continuing and expanding the many good partnerships that we have built as ABO Wind over the past 28 years.
“Transparency towards our shareholders remains an important issue for us. We also want to make our company even more attractive on the capital market.
“Our increased commitment to Environmental, Social and Corporate Governance will certainly help us in this endeavour.”