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Herbert Smith Freehills has advised learnd Limited on its business combination with GFJ ESG Acquisition I SE (renamed learnd SE), a Luxembourg special purpose acquisition company (SPAC) focused on ESG related technologies. learnd SE's new ordinary shares commenced trading on the Frankfurt Stock Exchange on 23 January 2023.
learnd SE assists its customers to reduce the energy consumption and carbon emissions of their buildings. Its technology is used to liberate the energy capacity within buildings, via existing Building Management Systems (BMS) to reduce energy costs and carbon emissions for customers whilst providing energy consumption flexibility based on grid demand.
London-based co-head of equity corporate finance and head of US securities Tom O'Neill commented: “We are delighted to have worked with learnd on completing this noteworthy European de-SPAC transaction and congratulate them on this significant milestone for the next phase of their journey."
Frankfurt-based corporate partner Julius Brandt commented: "learnd is a leader in the field of energy management solutions. We are excited to have supported them in navigating the combination with the SPAC focused on sustainable technology."
The team advising learnd includes Dr Julius Brandt and associates Michel Maassen and Ann-Kathrin Reinecke in Frankfurt, and Tom O'Neill, Gaelen Perrone, Zarko Perovic and Jordan Mulevicz McMath in London. Steffen Hoerner advised on German tax matters.
Ashfords advised learnd as co-counsel on UK law aspects with partners Andrew Betteridge (Corporate) and Angus Bauer (Tax)
Stibbe advised learnd on Luxembourg law with Jean-Marc Delcour (Counsel, Capital Markets Law) and Bernard Beerens (Partner, Corporate Law)