Asset management firm TiLT Capital, an unnamed European institutional investor, and existing investor Air Liquide Venture Capital are investing in Orcan Energy. Munich companies The company intends to use the fresh capital to grow in established markets such as Europe and the USA, as well as in emerging markets such as the Middle East, North Africa, Asia, and the Pacific region. It also intends to expand its global supply chains. According to the company, order intake increased by 300 percent last year. The Munich-based company expects its revenue to increase fivefold this year compared to 2021.
Orcan Energy: “Our business is showing exceptional growth rates”
The company's technology uses small to medium-sized industrial heat sources in the low-temperature range to generate electricity. Potential applications for the solution include engines, industrial processes, and ships. The Orcan Energy systems sold in 2022 alone are expected to save approximately one million tons of CO2 over their lifetime. Orcan Energy estimates the untapped global market at a volume of €300 billion.
"We have passed the tipping point, and the move toward clean, reliable, and affordable energy is well underway worldwide. Our solutions have a real impact on global emissions—now and even more so in the future. To illustrate the impact: If we were to supply just the global cement industry with our products, we could avoid more than 0.5 gigatons of CO2."
says Andreas Sichert, CEO and co-founder of Orcan Energy.
"With a simple solution, our customers can significantly reduce their energy costs and rely on stable prices in volatile times. Our business is experiencing exceptional growth rates despite clear global challenges. We are scaling our company significantly because we have the right products and partners, as well as a proven track record. This success is reflected in our oversubscribed financing round. I am delighted to welcome the two new investors on board, who fully share our vision."
