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AKD

PO BOX 59280, 1040 KG AMSTERDAM, NETHERLANDS
Tel:
Work +31 88 253 5000
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Fax +31 88 253 5001
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Web:
www.akd.nl

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HyET buys solar cell manufacturer from Nuon

June 2012

For this transaction, the buyer was represented by AKD, with a team headed by Zabdaj Pollen.

This week, HyET, Arnhem entrepreneur Rombout Swanborn's company, acquired solar cell manufacturer Helianthos from Nuon. Helianthos' operations are to be transferred to a new company called HyET Solar.

HyET paid EUR 5 million for Helianthos, a company specialised in designing and manufacturing a new kind of ultra-slim, flexible solar cells. The purchase means that the Arnhem test plant will not be forced to close down and nor will the Dutch solar industry lose important expertise.

Helianthos' new owner has set himself a term of three years to breathe new life into the Arnhem solar cell manufacturer. Rombout Swanborn, who made his fortune in the oil industry, is willing to invest EUR 10 million to EUR 20 million in that period hoping that solar cell technology will be profitable.

Swanborn's companies operate primarily in the oil and gas industry, as opposed to HyET's focus on an alternative source of energy: the creation of a membrane that allows hydrogen to be "stuffed" into petrol tanks. HyET has joined forces with Honda and Nissan for the design.

As well as Zabdaj Pollen, the AKD team included lawyers Luc Defaix and Cees Dekkers, and junior civil-law notary DaniĂ«lle Hahn.


About AKD
Employing a team of 200 lawyers and civil-law notaries, AKD is one of the largest legal services providers in the Netherlands. Based on a comprehensive service model and a personal approach, the firm provides high-quality services to its clients in virtually all legal areas. AKD maintains branches in Amsterdam, Breda, Eindhoven, Rotterdam, and Brussels.

For more information, please go to www.akd.nl.

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