Heuking advises Vito One on sale of all shares in GridX
A team led by Cologne-based Partner Dr Jörg aus der Fünten legally advised Vito One, one of Viessmann Group’s two venture capital companies, on the sale of all shares in energy start-up GridX. Together with other investors, Vito One had invested in the start-up as part of a financing round at the beginning of 2017. Following the majority takeover by E.ON, however, the previous investors are now exiting the company. GridX will continue to operate as an independent company.
The software developed by GridX can be used to control intelligent power supply networks (“smart grids”) allowing different energy resources to be connected on a single platform to optimize energy flows and to make the most efficient use of energy. Founded in 2016, the digital company has offices in Aachen and Munich with a total of some 60 employees.
Counsel to Vito One
Heuking Kühn Lüer Wojtek:
Dr. Jörg aus der Fünten (Venture Capital/M&A), Cologne