Orcan Energy repays WSF state aid ahead of schedule
Marius Ochs
| 27.10.2022
Munich-based cleantech has put the economic impact of the Corona pandemic behind it.
Munich-based Orcan Energy has fully repaid the loan it took out from the Economic Stabilization Fund (WSF) during the Corona 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 the travel restrictions and to stabilize the company. Because of this base, Cleantech 2021 saw a 300 percent increase in orders again compared to 2020.
"With the early repayment of the loan to WSF, we are now leaving the full economic impact of the Corona crisis behind us," says CFO Marcus Jentsch. He thanks WSF for its quick and unbureaucratic support. "We are now focused on reducing global Co2 emissions and producing clean, reliable and low-cost electricity."
The startup, founded in 2008, develops, manufactures and sells energy modules to convert waste heat into clean electricity. It says customers come from a variety of industries, including marine, cement and geothermal. With 500 modules installed, Orcan Energy says its solution is the most widely used technology in the low-temperature sector worldwide.
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Startup
2008
München
Orcan Energy
Conversion of energy from engines and industrial plants to clean electricity.
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