Protective shield proceedings bmp greengas GmbH: Insolvency proceedings initiated as scheduled

Munich, 1 August 2023. Within the scope of the protective shield proceedings, which bmp greengas GmbH started at the end of May 2023, the insolvency proceedings have been initiated today as scheduled. This is to be accompanied by the submission of a reorganization plan, which is to end the entire proceedings in October 2023 in the interest of all parties involved. After that, bmp greengas GmbH will be restructured for the long term and will therefore be able to operate regularly on the market again.

The reason for initiating the protective shield proceedings was the fact that market shifts and the Ukraine war have made it impossible for bmp greengas GmbH to supply the volumes of biomethane agreed with customers. Due to the dramatic change in the procurement situation, these quantities are not available to bmp greengas GmbH, or are only available with difficulty. As a result, bmp greengas GmbH was not in a position to fully meet its obligations to customers, regardless the increased prices.