ATT STARTS INVESTMENT PROJECT AND GOES CROWDFUNDING

ATT advanced thermal technologies GmbH started operations in November 2014, when the spin-off process from a leading engineering company was completed. In the first year, numerous engineering contracts, prototype build-ups and pre-series lots were completed. A major part of the manufacturing process, in particular the production of the ATT Powerfilm® heating elements, was performed by leading partners from the printed circuit boards industry.

According to its strategy, in the second year of operations production ATT will launch an own production facility for selected parts of the manufacturing process. To do this selection, the company executed a feasibility study and compiled a matrix, which assessed each process according to quality, risk, cost and flexibility scores. This matrix allowed to identify those processes which will be done by ATT in-house. Subsequently, an investment project consisting of capital expenditure amounting to EUR 500,000 was drawn up. This amount will be invested in stages over a period of 12 months starting in February 2016.

Financing of this project will be done through a mix of equity, equipment leasing and mezzanine debt. As the preferred instrument for the last category ATT identified equity-based crowdfunding, also known as “crowdinvesting”. In Austria, this form of financing is still rather new to the market, but popularity has been rising sharply this year and was specifically boosted by the new federal law on alternative investments (Alternativfinanzierungsgesetz / AltFG) which entered into force on September 15, 2015 and lifted the maximum amount which can be raised directly from private individuals and companies to EUR 5,000,000. ATT struck a deal with the leading local crowdfunding platform Green Rocket and will raise from the crowd up to EUR 250,000 in direct investment through qualified participatory subordinated loans (qualifizierte partiarische Nachrangdarlehen). Starting on November 09, 2015, these loans with a minimum amount of EUR 250 can be provided by any user registered on the platform.

With the investment project, ATT takes a major step in the fulfilment of its mission to become a leading supplier of high-tech thermal management systems for a broad range of industries requiring thermal regulation of interiors and components. By choosing crowdfunding as a financing instruments to realise the project, the company shows that it is at the leading edge not only in technology, but also in financial management.

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