Orcan Energy, which is a leading clean-tech company in the waste heat recovery sector, has attracted a minority investment from ALIAD.
Due to this investment, the management team has been expanded and Wolfgang Brand has been appointed Chief Financial Officer (CFO).
Along with E.ON, Air Liquide is the second strategic investor to acquire a stake in Orcan Energy. In the round of financing, in which the existing investors Kleiner Perkins Caufield and Byers (KPCB), Wellington Partners and E.ON also participated, the company also secured the support of Swiss Quadia, an investment company specialised in environmental finance.
Air Liquide’s commitment to the company highlights the attractiveness of Orcan Energy’s technology for generating electricity from industrial waste heat. Air Liquide and Orcan Energy are working together on the marketing of these innovative technologies for generating energy-efficient power from waste heat.
The ePack series of modular solutions for generating electricity from waste heat developed and sold by the Munich clean-tech company is among the most advanced, efficient and economical technological solutions on the market. In the course of the round of financing, Orcan Energy also completed the process for converting the company into a stock corporation (German Aktiengesellschaft). Its CEO is Dr. Andreas Sichert, one of the company’s three founders.
For the position of CFO, the company was able to secure the services of capital market expert Wolfgang Brand, who previously sat on the management boards of several listed companies and has extensive M&A experience.
“After the development phase and the successful launch of our technology on the market, with the now completed round of financing and the conversion into a stock corporation, we have set the course both financially and organizationally for dynamic growth in the huge and still largely untapped waste heat market,” says Dr. Sichert.