E.ON increases stake in Orcan Energy
Dr. Andreas Sichert, CEO Orcan Energy AG: "Together with E.ON we want to reach even more companies. In Germany and internationally".
Energy group E.ON has increased its stake in leading cleantech company Orcan Energy through its E.ON Business Solutions division. In the deepened partnership, Orcan Energy will benefit from E.ON's market access, its energy market know-how, its large workforce and attractive financing options for innovative and successful business models.
Munich, October 20, 2020 - The energy group E.ON has increased its stake in Orcan Energy in a financing round and is now the largest shareholder. Orcan Energy is a pioneer in the development and marketing of ORC-based waste heat solutions and, with more than 250 ORC products sold worldwide, is a leader in this field.
Customers benefit from CO2-free electricity at extremely low electricity costs. The efficiency PACKs from Orcan Energy can be installed wherever waste heat is generated. Orcan solutions are now used in industry, engine power plants and marine applications. The efficiency PACKs also contribute to greater efficiency in the field of renewable energies such as geothermal, biogas and solar. Orcan Energy only uses proven standard components in production, which makes the solutions particularly stable and low-maintenance.
"We make the sustainability journey profitable for our customers. The waste heat solutions from Orcan Energy are another attractive component in this respect. We can now help our industrial and corporate customers on an even broader basis to significantly reduce their energy costs and decarbonize their business," says Daniel Joisten, Head of Strategy & Transformation at E.ON Business Solutions, explaining the increased commitment to Orcan Energy.
The increase in financial participation will be accompanied by the expansion of the successful sales partnership between E.ON and Orcan Energy, in which E.ON acts as a service, distribution and project partner of Orcan Energy. The cooperation creates an essential prerequisite for actively shaping both the German domestic market and international energy markets. "We are proud that E.ON, as an experienced and reliable anchor investor, has increased its commitment and look forward to the realization of further major projects. Together with E.ON, we are equipping Orcan Energy for the future with new innovative business models," says Andreas Sichert. As their first major joint project, both partners are currently installing six efficiency PACKs at the geothermal plant in Kirchweidach, Bavaria, to generate green electricity from surplus geothermal energy. Further projects are already on the way.
About E.ON Business Solutions GmbH
E.ON Business Solutions GmbH specializes in integrated energy solutions for customers from trade, industry and the public sector. The company offers tailor-made solutions in the areas of energy efficiency, distributed power generation, flexibility, virtual power plants and battery storage. As an energy partner, the company thus achieves cost savings for its customers and reduces their energy consumption and CO2 emissions sustainably.