Orcan Energy raises money
The Munich-based cleantech company wants to generate clean electricity from waste heat. This has now convinced a French investor.
Cleantech Orcan Energy has gained the French investment company Otium Capital as a new investor. The investment follows a financing round in September 2022, which was led by Tilt Capital and Generali Investments. Otium Capital will now support the company in its global expansion.
Orcan Energy develops and distributes energy modules for converting waste heat into clean electricity. Founded in 2008 by Andreas Sichert, Andreas Schuster and Richard Aumann, the company aims to offer other companies cost-effective solutions for utilizing waste heat. The company's customers come from the marine, cement, steel, geothermal, oil and gas and power generation sectors.
"The significant growth in recent years combined with the international market development are strong signs of a successful and more environmentally friendly future," says François Durvye, CEO of Otium Capital. "The untapped resources of the industry open up new and sustainable avenues for efficient and reliable energy production."
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