EnOcean raises €8m to develop self-powered wireless technology in fourth financing round

16 December 2009

EnOcean has completed its latest round of financing, raising €8m that it said it will use to leverage the development of energy-autonomous wireless technology and expand its international market presence.

Two new capital providers, venture capital firm SET Venture Partners and communications technology producer the Kathrein group, join existing investors to finance the future growth of the business and the development of self-powered wireless technology.

‘This new financing backs up our strong growth curve. The extra funds give us ample financial means to intensify our sales activities in Europe, North America and Asia. Plus, we’re of course investing in further development of our highly promising platform technology,’ says EnOcean’s CFO Uwe Thumm.

The latest financing round is the fourth since EnOcean’s inception. The latest round joins existing investors Atmos, BayTech Venture Capital, Emerald Technology Ventures, Siemens Technology Accelerator, Siemens Venture Capital and Wellington Partners with two new investors, Amsterdam-based SET Venture Partners and the German Kathrein group.

‘EnOcean is a perfect addition to our investment portfolio. It reinforces our strategy of supporting enterprises that market sustainable technologies,’ explains Wouter Jonk, managing director of SET Venture Partners.

SET Venture Partners acquired a share in EnOcean earlier in the year from 3i and Wouter Jonk joined the EnOcean’s board.

Headquartered in Oberhaching near Munich with operations also in the US, EnOcean patented self-powered wireless technology and manufactures wireless sensor solutions for use in buildings and industrial installations, which combine miniaturised energy converters, ultra-low-power electronic circuitry and wireless. EnOcean is a promoter of the EnOcean Alliance, a federation of companies from the world’s building sector that has set itself the aim of creating innovative solutions for sustainable building.

Copyright © 2009 NewNet

Tags: energy efficiency

This story was published on Wednesday, December 16th, 2009 at 3:52 pm and is filed under North America, deals, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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