Greenstorm Mobility

About Greenstorm Mobility

Greenstorm Mobility, established in 2016 and based in Kufstein, Austria, operated with a distinct business model centered on the e-mobility and tourism sectors. The company was co-founded by Richard Hirschhuber, a hotelier, and his son-in-law Philipp Zimmermann. Hirschhuber's background in the hotel industry was instrumental in shaping the company's primary strategy. The core of the business involved providing e-bike fleets to hotel partners across Europe at no direct rental cost. In exchange for the e-bikes, Greenstorm received compensation in the form of unoccupied hotel rooms. These room allotments were then packaged as hotel vouchers and sold through various online platforms, creating a unique revenue stream from otherwise perishable inventory for the hotels.

This model also positioned Greenstorm as a significant player in the second-hand e-bike market. After a season of use, the e-bikes from the hotel fleets were refurbished and sold to consumers and dealers through the company's own e-commerce platform. The firm received a notable investment from the private equity firm Bregal Milestone in 2018, which later became the majority shareholder in early 2021. This transition also marked the departure of the founders, Richard Hirschhuber and Philipp Zimmermann, from their daily operational roles, with a new management team appointed to steer the company. Despite rapid growth, including being ranked among Europe's fastest-growing companies by the Financial Times, the business model faced significant challenges. The travel restrictions during the COVID-19 pandemic severely impacted the hotel voucher system. Ultimately, the business model proved not to be cost-effective, leading the company to file for insolvency in July 2023, as a restructuring was not pursued.