Asset management company TiLT Capital, an unnamed European institutional investor, and existing investor Air Liquide Venture Capital are investing in Orcan Energy. The Munich-based company plans to use the fresh capital to grow in established markets such as Europe and the USA, as well as in emerging markets like the Middle East, North Africa, Asia, and the Pacific region. Global supply chains are also to be expanded. According to the company, its order intake increased by 300 percent last year. For this year, the Munich team expects their revenue to quintuple compared to 2021.
Orcan Energy: “Our business shows extraordinary growth rates”
The company’s technology uses small to medium-sized industrial heat sources in the low-temperature range to generate electricity. Possible applications for the solution include engines, industrial processes, and ships. The systems sold by Orcan Energy in 2022 alone are expected to save approximately one million tons of CO2 during their lifetime. Orcan Energy estimates the previously untapped global market at a volume of €300 billion.
“We have passed the tipping point, and the shift towards clean, reliable, and affordable energy is underway globally. 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 equip 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 uncertain times. Despite clear global challenges, our business shows extraordinary growth rates. 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 funding round. I’m delighted to welcome the two new investors on board who fully share our vision.”
