Orcan Energy repays WSF state aid ahead of schedule

The Munich-based cleantech company has put the economic impact of the coronavirus pandemic behind it.

Orcan Energy from Munich has fully repaid the loan it took out from the Economic Stabilization Fund (WSF) during the coronavirus crisis. According to the company, the loan amounted to 4.5 million euros and was used by the company to compensate for the loss of revenue due to travel restrictions and to stabilize the company. On this basis, Cleantech recorded a 300 percent increase in orders in 2021 compared to 2020.

"With the early repayment of the loan to the WSF, we are now leaving the economic impact of the coronavirus crisis fully behind us," says CFO Marcus Jentsch. He thanks the WSF for its quick and unbureaucratic support. "We are now focusing on reducing global CO2 emissions and producing clean, reliable and cost-effective electricity."

Founded in 2008, the start-up develops, produces and sells energy modules for converting waste heat into clean electricity. According to the company, its customers come from various industries such as marine, cement and geothermal energy. With 500 modules installed, Orcan Energy says its solution is the most widely used technology in the low-temperature sector worldwide.