CargoBeamer: new CEO and capital raise point out to more growth
The Leipzig based company CargoBeamer is shifting rapidly. As of 7 February, it has a new CEO. Nicolas Albrecht is the company’s new head, and he aims to accelerate the company’s growth through new investments in equipment and terminals. To that end, the company has raised fresh capital.
The company’s co-founder and former CEO, Hans-Jurgen Weidemann, will continue with a new position as Chief Technology Officer (CTO). Markus Fischer, the company’s executive board member since 2016, will continue as CFO. As for Nicolas Albrecht, he is not new either. He’s served CargoBeamer as chief business development officer since 2020.
“A generational change”
The changes in the company came as a natural development. “The appointment of Nicolas Albrecht as CEO is a generational change in the leadership of CargoBeamer. Hans-Jürgen Weidemann developed the company’s leading technology and successfully introduced it to the market with our Kaldenkirchen – Domodossola route and the opening of the first CargoBeamer-terminal in Calais”, commented Robert A. Osterrieth CargoBeamer’s chairman of the supervisory board.
“The responsibility of Nicolas Albrecht will be to rapidly scale the proven business model into an international high-capacity transport network covering the important North-South and East-West transport corridors in Europe,” he added.
Ramping up the network expansion
Administrative changes came with more financial investments. Since 2021 CargoBeamer had found in Duisport a strategic partner and investor. The company has now found more private investors from Switzerland and the US that secured more financial capital that will help the company realise its expansion goals.
The company “raised 33,5 million euros in its latest financing round at a post-money valuation of 245 million euros”. “We are grateful to our existing and new investors for their support. The new capital will help us execute our ambitious growth plan,” said Markus Fischer, the company’s new CFO.
But how will the new capital be used? The plan is concrete: “The funds will be used to double the company’s rolling stock to almost 600 CargoBeamer railcars and develop new CargoBeamer terminals. CargoBeamer wants to build a dense network of more than 50 routes connecting over 30 CargoBeamer terminals along the main transportation corridors in its core European market in the next ten years,” said the company.
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