The two founders of Better Energy – Mark Augustenborg Ødum and Rasmus Lildholdt Kjær – have suffered significant financial losses in connection with the collapse of the solar cell company. Augustenborg Ødum and his wife own approximately 14 percent of Better Energy Holding through the company Augustenborg Invest ApS. The recently published annual accounts for 2024 show a deficit of DKK 686 million and negative equity of DKK 708 million. All assets have now been written down to a value of DKK 1, which effectively makes the company's ownership stake in Better Energy worthless. This is reported by Finans.
"The company has written down its shareholding in Better Energy Holding ApS to DKK 1 due to the reconstruction. Work is still being done on the reconstruction, and it is expected that it will be successfully completed," writes Mark Augustenborg Ødum in a written response to Finans.
The other founder and current CEO of Better Energy, Rasmus Lildholdt Kjær, also owns approximately 14 percent of the holding company through his family company Senk ApS. Here, the accounts show a deficit of DKK 690 million in 2024 and a negative equity of DKK 734 million. Here too, the assets have been written down to DKK 1.
Better Energy's crisis culminated in December 2024, when the holding company went into reconstruction. Since then, two operating companies have been declared bankrupt and a new entity – Better Energy Management A/S – has been established to continue selected activities. Since the start of the crisis, the workforce has been reduced from over 400 to around 100. Several Danish pension companies and banks have also lost large amounts.
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