Munich-based Orcan Energy has raised €28.5 million “late-stage” growth round to further accelerate the company’s international recognition and services uptake. The newest injection of capital was provided by TiLT Capital, an undisclosed French private equity investment house, a “well-known” European institutional investor, and existing investor Air Liquide Venture Capital (ALIAD). No mention was made of the company’s previous backers E.ON, Kleiner Perkins, or Wellington Partners.
Founded in 2008, Orcan Energy started life as a spin-out from the famed Technical University of Munich and taps into the second law of thermodynamics, which, “establishes the concept of entropy as a physical property of a thermodynamic system”.
Simply put, Orcan Energy is harvesting waste heat, that which is, “produced by a machine, or other processes that use energy, as a byproduct of…
Turning waste heat into clean energy, Orcan Energy raises €28.5 million
