Orcan Energy welcomes Otium Capital as a new shareholder
Munich, Germany, 31.01.2023 – Orcan Energy, the leading cleantech company turning waste heat into clean electricity, welcomes Otium Capital as a new shareholder in the company. Following the late-stage growth round closed at the end of 2022 led by TiLT Capital and Generali Investments, this transaction shows the continuing great interest by investors in Orcan Energy. Otium Capital, a leading French investment company focused on promising venture and growth capital opportunities, convinced the management team and the Supervisory Board of Orcan Energy with its proven track record and its broad network.
The latest climate conference (COP27) in Egypt has shown once again the need for scalable and quickly deployable solutions to tackle the global climate crisis. Orcan Energy is on a steady path to provide such solutions and deploy technologies on a global scale, tackling the climate crisis. The company’s cutting-edge modular Organic Rankine Cycle (ORC) technology taps into formerly unused heat sources, e. g. in the oil and gas or cement industry, to produce clean electricity at minimal costs.
Otium Capital’s investment in Orcan Energy follows the successful late-stage growth round led by TiLT Capital and Generali Investments, communicated in September 2022. The experienced French investment company with over 100 investments closed and more than EUR 1.2 billion assets under management was included in the group of investors with an attractive and further growing valuation. The addition to the over-subscribed financing round from 2022 underpins the vast market demand for Orcan Energy’s solution and the company’s impact. Otium Capital’s strong network and synergies with the existing portfolio will boost Orcan Energy’s ambitious growth path. Together, the partners will be able to leverage opportunities in the oil and gas sector and beyond, supporting society’s and companies’ decarbonization goals.
Commenting on the investment, Orcan Energy’s CEO and Co-Founder Andreas Sichert said:
“We’ve been making tremendous progress in harnessing and turning waste heat into affordable energy, especially in the oil and gas sectors. Our business continues to show exceptional growth rates. Having the right products, experience, and partners is key to success. Otium Capital has an outstanding track record as an investor and an impressive portfolio, where we see great potential for synergies. The French investment company is a great addition to our broad set of investors. We’re looking forward to the partnership.”
François Durvye, CEO of Otium Capital, stated:
“Orcan Energy is one of the most promising cleantech companies in Europe. We fully support the company’s vision and look forward to supporting Andreas and his team to scale globally. The significant growth in recent years paired with the international market momentum are strong pointers for a successful and greener future. The unused resources of the industries present us with new and sustainable ways for efficient and reliable energy production. Along with our latest investments like Néolithe, Orcan is a flagship of our new industrial thesis, incepted in late 2021, showing that innovation, energy efficiency and profitability work together. We are pleased to join the set of investors and look forward to being part of this journey to transforming the energy sector.”
For Orcan Energy:
Peter von Kageneck
Tel: +49 163 8840364
For Otium Capital:
Tel: +33 6 73 17 07 62