Dresden Biofabrik subsidiary has run out of money
The Biofabrik group from Dresden is developing “revolutionary technologies” for environmental protection. After twelve years, it is experiencing financial difficulties.
Oliver Riedel, head of the Biofabrik in Dresden, was also a candidate in the “Entrepreneur of the Year” competition in 2018. © SZ-Archive: Robert Michael
Dresden. The environmental company Biofabrik White Refinery GmbH in Dresden is temporarily insolvent. The Dresden District Court announced on Tuesday that the company’s assets are now in the hands of Dresden lawyer Jörg Dauernheim. However, an appeal against the order was immediately lodged.
In 2021, the company already reported a loss of 1.27 million euros not covered by equity. The losses totaled 3.3 million euros – despite an annual profit of almost two million euros. A more recent financial statement has not yet been published. Managing Director Oliver Riedel estimated the liabilities at 13.3 million euros at the time. The 48-year-old from Dresden is also the sole shareholder of the now provisionally insolvent company through three intermediary companies.
Multiple companies, multiple locations
The Biofabrik Group, based in the Dresden district of Rossendorf, currently has 15 companies. It is unclear to what extent the insolvency could spread to other subsidiaries.
The group of companies has existed since 2011. In Dresden alone, 35 employees are researching new recycling methods, especially for plastic, used oil and clinical waste. A test facility called the “Rocket Science Center” is located in Bernsdorf near Hoyerswerda. A biorefinery in Blizevedly near Prague is in continuous operation. The company also has a “Sales Finca” in Palma, Spain, among its locations, as well as facilities in Australia and Great Britain.
According to previous information, company boss Riedel wants to develop “revolutionary technologies for critical environmental problems”.
File number: 532 IN 741/24 at the AG Dresden
