Bienenelfe's innovative growth financing implemented with Cast Coil

Start-up financing of the Foundation enables growth and focuses on sustainable corporate development the same time.

Spiesheim, 15 January 2024 – With its commitment, the Foundation Stiftung Bienenelfe became seed-investor at Muenster (Germany) based Cast Coil GmbH in October 2023. With the signing of an investor agreement, the foundation now becomes a strategic investor and implements its concept of sustainable growth financing.

Denise Ulbrich, chairwoman of the Stiftung Bienenelfe: "We make funds available where we expect a high, positive contribution in line with our foundation's goals. At the same time, however, you also have to accept that a start-up needs maximum flexibility in order to grow and gain its market share. With our investor agreement, we enable the Cast Coil team to seize all opportunities, but also to identify and avoid possible undesirable developments at an early stage."

This is achieved through an innovative investor agreement that does not require any negative criteria. It includes only two rules:

The first: If a new business relationship would obviously violate the sustainability goals enshrined in the statutes of the Foundation, or if the use of Cast Coil technology were to be used in environmentally harmful products, in disregard of human rights or outlawed weapon systems, it would be subject to a veto right of the foundation. This enables all shareholders to re-evaluate the business relationship, taking into account the violations. If, despite the veto of the foundation, the remaining shareholders come to a unanimous conclusion that the business relationship is necessary for Cast Coil GmbH, this can be decided accordingly.

Denise Ulbrich: "On the one hand, we secure our interests in terms of sustainability, but prevent the cast coil from being put into a tight corset, too."

The second rule: Cast Coil GmbH uses a fixed part of its profits to promote and support non-profit and/or charitable organizations in Germany.

"For every 1 million of profits, EUR 50,000 will be awarded to corresponding organizations in Germany. The group of shareholders decides on the use – whereby a payment to Stiftung Bienenelfe has been expressly excluded." Denise continues.

This concept strengthens the socio-political profile of the start-up and promotes the commitment of all parties involved. Each shareholder waives a small share and has a say in the total amount.


"We didn't even have to discuss it at shareholder level: the investor agreement brings benefits to all parties involved. We have set out to implement the transformation to more sustainable electric drives with our key technology: Cast Coil. With the investor agreement of the Foundation, we prove it." explains Franz-Josef Wöstmann, Managing Director and founder of Cast Coil GmbH. "Both technologically and economically, as well as ecologically and socially."

ABOUT THE STIFTUNG BIENENELFE
The smallest bird in the world (the "Bienenelfe") symbolizes the great change that the foundation can bring about on a small scale. Regionally rooted, ecologically and economically sustainable – the Stiftung Bienenelfe proves that animal and nature conservation is possible far away from radical ideologies. Not to treat living beings as an industrial product in the sense of a rational cost/benefit analysis, not to want to prescribe animal and environmental protection as a doctrine, but to bring about a great motivation to participate on a small scale through heart and mind – that is the mission statement of the Stiftung Bienenelfe.

Contact: Denise Ulbrich
denise@bienenelfe.org
Phone: +49 (171) 5234455
www.bienenelfe.org

ABOUT CASTCOIL
In September 2023, Cast Coil GmbH, headquartered in Münster, Germany, secured the exclusive rights to use and market the CAST COIL technology developed by Fraunhofer IFAM. With a team of scientists and practitioners, the company enables licensees to produce CAST COIL's in high quantities and quality, while at the same time imparting the know-how about the use and possibilities of new geometries and materials to manufacturers of electric motors and generators. Cast coils make electric motors more efficient, more powerful and more sustainable.

Contact: Franz Josef Wöstmann
franjo.woestmann@castcoil.de
Tel: (0176) 87897007 
www.castcoil.de