Founded in 2008 as a spin-out from the Technical University of Munich and led by Andreas Sichert, chief executive of Orcan Energy, the company provides ePack, a plug-and-play that allows waste heat to be exploited in the process of power generation.
Orcan Energy, a Germany-based waste heat recovery technology specilalist, has raised a second round of financing with local energy utility Eon as a new investor.
Existing investors, venture capital firms Kleiner Perkins Caufield & Byers and Wellington Partners, also participated in the funding. The amount of the transaction was not disclosed.
The company intends to use the funds to expand adoption of its solutions, refine its delivery chain and upgrade safety and quality standards during assembly.
Founded in 2008 as a spin-out from the Technical University of Munich and led by Andreas Sichert, chief executive of Orcan Energy, the company provides ePack, a plug-and-play that allows waste heat to be exploited in the process of power generation, and to enhance the energy efficiency of many industrial and energy producing facilities.
