Energy Technology Company

Background

  • A VC-backed company burning $1 million/month with only 2 month cash on-hand after having raised a $5 million financing 4 months earlier
  • Investors engaged Kirchner to assess the company and subsequently committed $5 million additional financing to implement Kirchner’s recommended turnaround strategy

Mandate

  • Kirchner Group team member installed as interim CEO

Activity

  • Revenue maintained while monthly burn reduced 70% to $300K/mth
  • Gross margins grew 9% and the bottom line improved by $10 million year-on-year
  • A major threatening lawsuit settled

Results

  • Within 11 months, AIM exchange listing with restructuring financing participants achieving an 3.5x return on capital at IPO date