The assets of Echotect were sold to Innovent Technologies
On behalf of the receiver of Echotect B.V., Mr Tiethoff (DVDW Advocaten The Hague), PhiDelphi Corporate Finance acted as corporate finance advisor during the suspension of payments and subsequent bankruptcy of Echotect. After an intensive process in which several domestic and foreign parties were approached, the assets were acquired by Innovent Technologies AG from Wittnau, Switzerland.
Echotect is a Dutch company focussing on the development and commercialisation of a new, patented extrusion technology to produce stone slabs in which recycled PET is used as binder. The Echotect concept originates from the R&D laboratory of Shell. Echotect was established following the patent application of the technology in 2008. The company has invested in the development and testing of the new technology, amongst others in a pilot plant in Kaisten, Switzerland. Echotect was funded by Shell Technology Ventures Fund 1.
Innovent Technologies AG is a Swiss company with expertise in (the development of) extrusion technologies and corresponding machinery. The specific expertise of Innovent Technologies enables the company to manufacture the production equipment necessary for the commercialisation of the technology.
PhiDelphi acted as adviser to the receiver of Echotect.