S&O share: It will soon become the Enapter share


The Enapter vision

Enapter designs and manufactures highly efficient hydrogen generators. The technology is based on anion exchange membrane electrolysis (AEM electrolysis), which Enapter has patented. The company’s vision is to completely replace fossil fuels with green hydrogen and make them more accessible. The production of hydrogen is very energy-intensive. And hydrogen is only green if it is produced using renewable energies. Other companies are also active here: Siemens Energy, Linde, Air Liquide or Nel Asa, for example, are planning to use their electrolysers to reduce industrial CO2-to make free.
Unlike the big competitors, Enapter uses small electrolysis systems that can be enlarged as required. The electrolysers can also be used in the home or at the petrol station, or they can replace diesel generators. In the municipality of Saerbeck in North Rhine-Westphalia, Enapter wants to set up the first mass production for its electrolysers. Up to 100 million euros are to flow into the highly automated production, which should start production as early as 2021.

The story of Enapter

The history of the company, and therefore of the Enapter share, is somewhat unusual. The founder and CEO of Enapter is the entrepreneur Sebastian-Justus Schmidt, who has been involved in software development for more than 30 years. He founded Enapter in 2017 to build green energy systems. To this end, he took over the technology, patents and the core team of the Italian company, consisting of electrochemists ACTA SpA company The company, based in Pisa, was in bankruptcy at the time. After the takeover, Enapter established itself as a pioneer for sustainable hydrogen electrolysers and further developed the ACTA team and product. Enapter has a seat in Pisa as well as in Berlin and further locations in Europe and Asia. With his investment company BluGreen Company Limited Based in Hong Kong, Sebastian-Justus Schmidt bought into the listed S&O Beteiligungen AG in August this year. This, in turn, had previously emerged from S&O Agrar AG, which had successfully processed its insolvency plan in 2019. Initially, Schmidts BluGreen holds around 61.47 percent of the voting rights and share capital in S&O Beteiligungen AG. In a further step, there will be a capital increase in kind, in which BluGreen will contribute its 100 percent stake in Enapter Berlin and Enapter Pisa. This is how Enapter AG will come into being. The Annual General Meeting of S&O Beteiligungen AG, which will be called Enapter AG in the future, also resolved on October 8, 2020 a cash capital increase of around 6.2 million euros with subscription rights for shareholders at a subscription price of 6.00 euros through the issue of 1,031. 500 shares.

How has the Enapter share performed?

The S&O share (future Enapter share), which was quoted at EUR 0.89 (with a trading volume of zero) on August 10, 2020, on the day the majority takeover by Schmidt’s BluGreen was published, jumped to August 11, 2020 , 46 euros. Since then, the S&O share has risen sharply: At its peak, the future Enapter share cost an incredible 76.50.
S&O Beteiligungen (future Enapter AG) reacted to the considerable price increases and commissioned mwb fairtrade securities trading bank as designated sponsor. One Designated sponsor looks after small and medium-sized listed companies so that trading in their papers runs smoothly. Because of the small number of currently tradable S&O shares of Free Flaot is only 6.2 percent, the trading volume of the future Enapter share is very low, which leads to the high price swings. The company therefore wants to help improve trading conditions by commissioning the Designated Sponsor, S&O announced.
The company classified the following three events as other relevant upcoming events that also affect the potential trading volume:
  • the expiry of the offer period for the mandatory offer of BluGreen Energy Ltd on October 19
  • the capital increase in kind currently being implemented through the issue of 20 million shares
  • and the cash capital increase resolved by the Annual General Meeting on October 8, 2020 through the issue of 1,031,500 shares
The stock offering will therefore increase significantly in the future, which will improve the tradability of the stock.

Opportunities and risks of the future Enapter share

The first analysts have already put the S&O share, the future Enapter share, under observation. Karsten von Blumenthal, analyst at First Berlin Equity Research, sees a number of strengths and opportunities as well as weaknesses and risks at Enapter. Opportunities and Strengths:
  • The company operates in a market for green hydrogen that is at the beginning of a strong and long-term growth phase.
  • Enapter is the technology leader in AEM electrolysis.
  • Enapter aims to build simple, standardized and inexpensive electrolysers and aims for mass production.
  • Enapter owns a growing patent portfolio of approved and pending patents. The most important patent protects Enapper’s core technology, AEM electrolysis with a dry cathode, in Europe, the USA, China and India. We see Enapter as excellently positioned to sustainably defend their competitive edge through patents and further research and development, writes Blumenthal.
Risks and weaknesses:
  • Enapter is a small company with about 100 employees and limited resources.
  • Enapter was founded in 2017 and therefore only has a very short company history.
  • Low capital resources: Enapter recently raised funds (with a volume of 4.2 million euros) for corporate financing through a Series A round. According to the analysis by First Berin, the available funds are nowhere near enough to set up a site for mass production of electrolysers and for the planned company growth.
In addition, there are legal risks from the past: In the securities prospectus (June 29, 2020) for the admission of further shares to trading in the regulated market of the Frankfurt Stock Exchange, S&O Beteiligungen as the issuer writes: BaFin could impose additional fees on the issuer due to violations of capital market regulations which could have a significant negative impact on the result and, as a result, on the company’s equity. BaFin had already imposed a budget of 118,000 euros in 2015 and deferred in 2019. In a letter dated April 2, 2019, BaFin announced that the initial suspicion of neglecting ad hoc notifications from 2013 and 2016 had arisen. Since then, the issuer has not received any further information, even on request, as to whether or not an investigation has been initiated by BaFin, according to the prospectus. Investors who are interested in the interesting companies in the field of hydrogen technologies should keep an eye on the further development of Enapter.

Costs, options & Co .: The depot comparison

If you want to buy an ETF or shares, you need a securities account. A comparison of the most important providers can be found in the table below, further detailed information in the depot comparison.

Depot comparison: fees, foreign exchanges & Co.

free depot management Order fees Savings plan fees Mobile trading possible via app German stock exchanges USA and Canada Japan other Direct trade Securities (except stocks, ETFs, funds) Certificates / warrants Bonds CFDs Button link
yes (3 years) 3.90 euros for new customers in the first year, then from 9.90 euros / max. 59.90 euros from 1.5% of the order volume per transaction Yes Yes Yes No No Yes Yes Yes Yes Yes
Yes 3.90 euros for new customers in the first year, then from 9.95 euros / max. 69.00 euros from 1.5% of the order volume per transaction Yes Yes Yes Yes No Yes Yes Yes Yes Yes
Yes EUR 10 to EUR 10,000 order, then EUR 25 1.50 euros Yes Yes Yes No No Yes Yes Yes Yes No
Yes 2.90 euros for new customers in the first 6 months, thereafter from 4.90 euros + 0.25 market value / max. 69.90 euros from 1.75% of the order volume per transaction Yes Yes Yes No No Yes Yes Yes Yes No
Yes 7.00 euros 1.00 euros No Yes Yes Yes Yes Yes Yes Yes Yes Yes
Yes 4.00 euros from 0.80 euros No Yes Yes Yes Yes Yes Yes Yes Yes No
no (0.119 percent on deposit volume per year) 3.80 to 5.90 euros No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Yes 1.00 euros No Yes Yes Yes Yes Yes Yes Yes Yes No No
no, from 19.99 euros from 20.00 euros / Yes Yes Yes No Yes No Yes Yes Yes No
Yes from 9.95 euros from 0.90 euros Yes Yes No No No No Yes No No No
* Our independent experts deal regularly with products and service providers. We will provide you with the resulting articles free of charge. COMPUTER BILD receives a small commission if you click on a link or conclude a contract with a linked provider. Note: The content on computerbild.de is not a specific investment recommendation and only contains general information. Authors, editors and the cited sources are not liable for any losses that may arise through the purchase or sale of the securities or financial products mentioned in the articles. Complex financial products such as CFDs in particular harbor a high level of risk: According to the company, 75% of private investor accounts with eToro lose money when they trade CFDs from this provider.



Leave a Reply

Related Posts

Can You Vacuum Seal Marijuana

Can You Vacuum Seal Marijuana You can totally vacuum seal your weed, no problem. Vacuum sealing helps keep your stash fresh and potent by getting

Artificial Marijuana Plant

Artificial Marijuana Plant Artificial marijuana plants are a cool decor choice for adding some green vibes to your space without the hassle of caring for

Air Purifier for Marijuana

Air Purifier for Marijuana To effectively filter out cannabis smoke, choose a high-quality air purifier with HEPA and activated carbon filters. These filters work together