Electrochaea

Electrochaea closes €36M financing round

Electrochaea's Series D is completed with an additional € 14.9M investment from the EIC Fund

Munich, 07 January 2022

Power-to-gas company Electrochaea announced today a € 14.9M equity investment from the European Innovation Council (EIC) Fund. This investment completes the €36 million Series D round, led by the energy technology company Baker Hughes and existing partners MVP, Storengy (an ENGIE subsidiary), btov, KfW, Energie 360°, Caliza, and Focus First. The purpose of this investment round is to accelerate the scale up and commercialization of Electrochaea’s technology that produces a replacement for fossil natural gas while storing renewable energy and reusing CO2.

The equity funds permit Electrochaea to catalyze the construction of a commercial European project, through direct investment of funds, and to realize the engineering work completed under the €2.5 million award that Electrochaea received in August 2020 from the “EIC Accelerator” program, a part of the EU research and innovation program “Horizon 2020”. The EIC equity investments are made to scale-up game-changing innovative technologies that promote Europe’s goal to reach net-zero greenhouse gas emissions by 2050.

Electrochaea’s power-to-gas biomethanation technology produces grid-quality renewable methane using CO2 and renewable hydrogen. Renewable methane can replace any use of fossil natural gas, thereby significantly reducing greenhouse gas (GHG) emissions, utilizing investment in existing gas distribution and storage infrastructure, and contributing to the transition to a clean energy economy.

“Equity support from the EIC Fund will have a significant impact on Electrochaea’s ability to deliver renewable gas to customers throughout Europe and the world,” said Mich Hein, CEO of Electrochaea. “Technologies that can deliver on net-zero greenhouse emission goals need to be scaled up and brought to the market without delay. Electrochaea´s biomethanation technology, which has been proven in two demonstration plants, one in Denmark and one in Switzerland, is an ideal solution to replace fossil gas with fully renewable gas and to participate in the energy transition.”

“Electrochaea is a great example of how the EIC Fund is supporting the climate tech innovators to bring their technologies to the market and help achieving the Green deal objectives,” added Martin Bruncko, member of the EIC Fund Investment Committee. “This equity financing will support Electrochaea to successfully produce at industrial scale renewable methane that replaces natural gas and can be stored and transported in the existing gas grid.”

About Electrochaea | www.electrochaea.com

Electrochaea delivers a technology to produce renewable methane, a fuel that replaces natural gas, and can be stored and transported in the existing gas grid. Electrochaea’s patented process combats climate change by utilizing CO2, producing a renewable fuel, and providing a solution for long-term storage of intermittent renewable energy. The company is planning to deploy its technology with partners to produce more than 15 billion cubic feet per year of renewable bio-synthetic natural gas by 2025. Industrial-scale pilot plants have operated in the U.S., Switzerland, and Denmark. Electrochaea is headquartered in Munich, Germany, with subsidiaries in Denmark and the U.S.


Kebony

Kebony raises €30M in funding

Kebony raises EUR 30 million in funding round led by Jolt Capital and Lightrock

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  • Kebony’s patented wood modification technology enhances the qualities of sustainable softwood, giving it the characteristics and usability of premium hardwood
  • Kebony enables the production of sustainable and environmentally friendly wood at low cost, which has the potential to transform the construction industry
  • Kebony has demonstrated strong year-on-year growth, and will use the funding to expand and scale across the European and US markets

Oslo, 27 October 2021

Kebony, the leading environmentally friendly wood modification technology company, today announces a successful EUR 30 million funding round led by Jolt Capital and Lightrock. Kebony’s vision is to reduce CO2 emissions and tropical deforestation using its patented wood modification techniques, which produce superior wood in an environmentally friendly way.

The key disruptive trends in the construction industry are expressed by the need for greener, safer and better products, as the standard construction materials concrete and steel are large emitters of CO2 globally. In addition, the current large market for tropical wood is set to be replaced by enhanced wood to protect bio-diversity and reduce tropical deforestation.

The Kebony® technology permanently transforms sustainable wood species such as pine into Kebony wood with features that are comparable, and in some cases superior, to those of precious tropical hardwoods. This unique environmentally friendly process is also a superior alternative to traditional wood treatment based on impregnation with wood preservatives.

Kebony’s EUR 30 million financing round is led by Jolt Capital and Lightrock, who will join longstanding Kebony shareholders such as Goran, MVP, FPIM, PMV and Investinor, of which the latter two will remain represented on the Board of Directors. The capital injection will expand and accelerate Kebony’s growth initiatives in core markets in Europe and the US. The funding will enable Kebony to further penetrate a EUR 3 billion market, and leverage the underlying megatrends of producing sustainable materials for the residential and non-residential construction industries.

“Kebony produces the most beautiful and ecological wood on the market, with a superior quality that is both environmentally friendly and cost-effective. To further leverage opportunities within the enhanced wood technology industry, we are proud to announce Jolt Capital and Lightrock as new investors in Kebony,“ says Norman Willemsen, Chief Executive Officer of Kebony.

“At Jolt Capital we have a strong interest in material science companies which leverage their patented technologies to offer sustainable products. With over 20 years of R&D in woodtech and a well-proven process that gives cultivated soft woods the desirable properties of hard tropical ones, Kebony is one of them. We are thrilled to finance the expansion of their European production facilities to both support the strong market growth and offer an alternative to rainforests deforestation,” says Antoine Trannoy, Managing Partner at Jolt Capital.

“Kebony is perfectly positioned in the race for a decarbonized world with an ambition to be the leader within wood modification technologies. We look forward to supporting the company to implement its growth strategy and to leverage the significant operational scalability and continue the profitable growth journey,” says Kevin Bone, Partner at Lightrock.

“The new management team has conducted a successful transformation of the company, and with backing of our new high-quality investors providing improved financial flexibility, Kebony can accelerate growth, enhance its technology development roadmap, and explore potential acquisitions. The addition of Didier Roux and Rebekah Braswell to the Board of Directors will strengthen Kebony’s expansion and scalability. Coupled with the company’s unique selling proposition and backed by double-digit growth, we believe Kebony is ideally positioned to unlock the full potential of sustainable and enhanced wood.” says Cornelius Walter, newly appointed Chairman of the Board of Directors.

“Kebony reported a revenue growth of 23% in the first half of 2021, compared to the same period in 2020, with a strong positive EBITDA. The revenues in 2020 had already increased by 26% year-over- year, with a significant EBITDA improvement, driven by the company’s geographical growth strategy in key markets. The finalization of the private placement significantly strengthens Kebony’s financial flexibility and supports the accelerated growth strategy,” says Thomas Vanholme, Chief Financial Officer of Kebony.

“As early investors in Kebony, we were impressed by the technology and the market opportunity that lay in substituting tropical hardwood with a sustainable alternative. We have seen the company through its transition from an early pioneer in the modified wood market to being a market leader in the segment, with demonstrated international growth potential. We are delighted to have Lightrock and Jolt Capital bring momentum to scaling Kebony in the years to come. What better way to make a massive impact on sustainability than stopping logging of precious tropical hardwoods, whilst still providing a long-lasting wood alternative to concrete, plastic and steel?” added Thomas Hoegh, Founder and CEO of Arts Alliance Ventures.

Carnegie AS and Pareto Securities AS have acted as financial advisors to the company.

About Kebony | www.kebony.com

Kebony is a Norwegian company which aims to be the leading wood brand and technology company. Underpinned by proven wood modification technologies, it produces an enhanced wood of a superior quality that is both environmentally friendly and cost-effective.

The company’s headquarters is based in Oslo, while production, research and development and other administrative functions are located in the Skien municipality, south of Oslo. In addition, the Group has a production facility in Antwerp, Belgium. Kebony has subsidiaries in Norway, Denmark and Sweden, sales representatives in Germany, France, UK and the US and a wide distribution network internationally. Shareholders are leading the venture with private equity investors from Belgium, Germany, France, Norway and UK. The company has received numerous awards for its environmentally friendly technology and innovation, including its naming as a World Economic Forum Technology Pioneer.

The Kebony® technology permanently transforms sustainable wood species such as pine into Kebony wood with features that are comparable, and in some cases superior, to those of precious tropical hardwoods. This unique environmentally friendly process is also a superior alternative to traditional wood treatment based on impregnation with biocides (wood preservatives). The company’s patent- protected production processes yield products that deliver major improvements in durability and dimensional stability, at the same time as being highly attractive. The Kebony products are suitable for a multitude of applications and designs – encompassing both indoor and outdoor applications.

Kebony’s purpose and mission is through active innovation, quality thinking and understanding of commercial possibilities; give the world beautiful, long lasting and environmentally friendly wood products. The company will show social responsibility and contribute to improvements of the environment in a way that builds a better future.


Baker Hughes invests in Electrochaea

Baker Hughes Invests in Bio-methanation Technology Company Electrochaea to Expand Carbon Utilization Portfolio with Power-to-Gas Solution

  • Electrochaea technology enables CO2 recycling into grid-quality, low carbon synthetic natural gas (SNG),  contributing to decarbonization of hard-to-abate sectors, such as transportation and heating.
  • Baker Hughes will combine its post combustion carbon capture technology with Electrochaea’s bio-methanation technology to develop and commercialize an integrated carbon capture and utilization (CCU) solution.

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June 28, 2021 at 8:00 AM EDT

Baker Hughes (NYSE: BKR), an energy technology company, has announced an investment in Electrochaea, a growth stage company developing novel proprietary bio-methanation technology. Through its investment, Baker Hughes will enhance its broader carbon capture and utilization (CCU) portfolio and provide an integrated solution for customers across the carbon dioxide (CO2) value chain to enable the production of low carbon synthetic natural gas (SNG) from captured CO2 and green hydrogen, helping meet demand for cleaner fuels to advance the energy transition.

The Electrochaea bio-methanation process is an accessible, highly-efficient, scalable and complementary technology to the Baker Hughes CCU portfolio. The two companies will join efforts to accelerate the scale up and industrialization of the technology, and they will develop the commercialization of an innovative integrated carbon capture and utilization solution. Once commercialized, the solution will provide to customers a unique ability to transform CO2 emissions into clean SNG.

Baker Hughes will draw from its portfolio of carbon capture technologies, including its Compact Carbon Capture design, to provide integrated solutions tailored to specific applications utilizing both CO2 sources with biogenic origin, such as biomass and waste-to-energy plants, as well as sources based on combustion of fossil fuels, such as industrial plants.

“The combination of these technologies provides an integrated method to decarbonize hard to abate sectors such as road transportation and heating”, said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “This agreement is another deliberate step in our strategy to position Baker Hughes for new energy frontiers like CCU by investing in emerging technologies and combining them with our own proven capabilities. Together, we can develop and scale faster, providing integrated solutions that can effectively decarbonize a range of industries.”

“Delivering synthetic natural gas at grid scale would be a remarkable development for energy consumers,” added Mich Hein, CEO of Electrochaea. “By combining Baker Hughes’ carbon capture technology process with biomethanation, customers could potentially deploy large scale plants to reduce the carbon impact of existing gas infrastructure. We look forward to working with Baker Hughes to scale up this promising new solution.”

SNG is methane that originates from a synthesis process that starts from carbon and hydrogen feedstock. Compared to renewable natural gas (RNG) and bio-methane – which have biological origin – or fossil based natural gas, SNG re-utilizes CO2 that would be otherwise emitted into the atmosphere, thus contributing to significantly mitigating greenhouse gas emissions.

Electrochaea’s technology produces SNG from green hydrogen and CO2 that can come from a variety of sources, such as biogas, fermentation off-gas or captured from single point emitters such as power and industrial plants. SNG can be used for low-carbon heating, transport and industrial applications. In addition, once SNG is injected into existing natural gas pipelines, it can be used as a form of energy storage.

Along with the lead investor Baker Hughes, the existing investors MVP, Storengy (an ENGIE subsidiary), KfW, Caliza, Focus First, Energie 360°, and btov also participated in Electrocheaea’s latest financing round. Baker Hughes will take an approximately 15% stake in Electrochaea to help advance new project development and commercialization. Baker Hughes will also assume a seat on Electrochaea’s Board of Directors.

 

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About Baker Hughes:

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

About Electrochaea:

Electrochaea delivers a technology to produce renewable methane, a drop-in fuel for natural gas, that can be stored and transported in the existing gas grid. Electrochaea’s patented process addresses the climate challenge by utilizing CO2, producing a renewable fuel, and providing a solution for long-term storage of intermittent renewable energy. The company is planning to deploy its technology with partners to produce more than 15 billion cubic feet per year of renewable SNG by 2025. Industrial-scale pilot plants have operated in the U.S., Switzerland and Denmark. Electrochaea is headquartered in Munich, Germany, with subsidiaries in Denmark and the U.S. Visit us at www.electrochaea.com.


Prolupin announces Paul Denayer as new CEO

Press Release

Grimmen, 27.04.2021.

The European market leader in plant-based lupine protein food and beverages is pleased to announce the appointment of Paul Denayer to the position of CEO.

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Paul brings with him more than 20 years of relevant experience as business leader in the Food Industry. Paul served most recently as CEO of Crop’s, market leader in Europe in frozen vegetables, fruits and meal solutions. Paul also served more than 10 years as Vice-President CFO at Alpro, the European market leader in plant-based food and beverages. Paul played a pivotal role in Alpro’s growth journey and has been instrumental in transitioning Alpro from a niche player to a branded mainstream category leader.

“Paul’s track record in leading teams and companies in the Food and Plant-Based industry in particular, positions him for success in leading our organization forward” explains Reiner Küster, Chairman of the Advisory Board of Prolupin. “His strong leadership skills and ability to sense and respond to market opportunities will help focus Prolupin in its pursuit of profitable international growth.”

“I am very excited to be joining the Prolupin team” says Paul. “The market for plant-based is booming, driven by strong consumer demand for healthy and sustainable choices, I strongly believe Prolupin with its expertise and branded position has enormous potential to address the plant-based market for further growth, expand internationally and grow its plant-based offering both in B2C and B2B.” Paul further adds “I look forward to work together with the Prolupin team and execute upon the significant market opportunities in plant-based”.

Christian Fankhänel, coming from Mars, recently joined Prolupin to become the new CFO. The company also strengthened its organization with the hiring of Wolfgang Strack to lead its B2B division. “We enter the global plant-based protein B2B market to grasp the significant upside potential on the back of the lupine protein core product” says Reiner Küster.

In the course of this, Malte Stampe (55), sole managing director since 2015, is leaving the company with immediate effect. “We thank Malte Stampe for a very successful 6 years together. He has been responsible with a lot of pioneering spirit for the development and implementation of a B2C brand portfolio using key technologies, which led to important product innovations and the launch of the unique dairy-free and vegan consumer brand MADE WITH LUVE in Europe. With proven proof-of-concept, i.e. establishing the startup as the #1 lupine protein consumer brand in Germany and Austria and #2 in plant-based yogurts overall, Malte Stampe was able to lead the startup through three successful rounds of financing, uniquely positioning it for growth investors” explains Reiner Küster. “The value of the company has multiplied during this time.”

 

 

About Prolupin
Prolupin GmbH was founded in 2010 as a spin-off of the Fraunhofer Institute for Process Engineering and Packaging in Freising, Bavaria. The company specialises in extracting the protein of the sweet lupin and making it usable for the production of food in the form of the unique lupin protein isolate (LPI). It is a patented process based on 25 years of research. In 2014, the scientists of the Fraunhofer IVV and the researchers of Prolupin GmbH were awarded the German Future Prize for the development of plant-based food ingredients from lupins and a contribution to balanced nutrition. The start-up develops its own products and markets them under the umbrella brand MADE WITH LUVE in German and Austrian food retailers and via selected online shops.


GETEC and GreenCom Networks found joint venture

GETEC Green Heating makes economical switch to climate-neutral real estate possible

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• GETEC and GreenCom Networks (“GreenCom”) enable cost-neutral switching to a climate-neutral and sustainable energy supply for real-estate owners.
• Offer follows successful launch in region of Germany, Austria and Switzerland.
• The joint venture, GETEC Green Heating GmbH, will replace hundreds of thousands of outdated electric storage heaters with a new controllable storage heating system powered by green energy.
• Services include equipment replacement and operational management with no additional investment on the part of the owner. Tenants enjoy long-term price security combined with increased comfort.

Magdeburg/Munich, March 11, 2021

With Green Heating, GETEC presents a concept that allows real-estate owners to make a cost-neutral switch to a climate-neutral and sustainable energy supply. In addition to Fossil-to-Green solutions that replace fossil energy supplies with modern and climate-friendly energy systems, the concept also includes a Green eHeating program that GETEC has developed together with leading energy IoT company GreenCom Networks. Through a joint venture, known as GETEC Green Heating GmbH, hundreds of thousands of old electric storage heaters will be replaced in the future with a new, controllable storage heating system powered by green energy.

The new system can achieve significant CO2 savings in existing buildings and make an enormous contribution to combating climate change: Currently, there are more than 11M storage heaters installed in Europe, with UK (> 5M), Germany (> 4M) and Spain (> 1.5M) leading in numbers. The average age of these storage heaters is over 20 years, which leads to reduced efficiency, continuously rising energy costs and little comfort for tenants. Apart from improved comfort and efficiency, replacing the equipment would also create opportunities from an energy perspective: In Germany, for instance, the combined total of all installed storage heaters could provide 15 TWh of storage capacity per year if they were bundled into virtual power plants. However, storage heaters have hardly any digital connections that would allow them to be controlled.

“Currently, storage heaters not only provide little comfort for residents but also constantly increase energy costs and are usually not digitally connected or controllable. This makes such apartments less significantly attractive. With GETEC Green eHeating, we eliminate these disadvantages and create a housing solution that not only involves low risk, but also increases the value of the property – without additional costs. After launching our solution to the German-speaking market, we’re delighted to expand to the rest of Europe now, “explains Michael Lowak, Segment CEO Real Estate Management at the GETEC Group.

GETEC Green Heating GmbH offers a contracting product for heat delivered as a service. Old storage heaters are replaced with new, digitally connected and controllable heat storage systems. The offer comes without installation costs in return for a 15-year heat-as-a-service contract and includes all necessary services such as hardware de-installation and installation as well as operational management, maintenance and billing. GreenCom Networks connects all the storage heating systems involved to its energy IoT platform, optimises the energy flows, and provides operational monitoring of the heating systems, including the virtual power plant. This enables GETEC to take advantage of the load and storage flexibility of the systems.

Peter Müller-Brühl, COO of GreenCom Networks AG, explains, “The GreenCom platform connects and controls all the plants involved in the GETEC Green eHeating products. The integration and optimisation of so many plants enable modern heat contracting as a new type of service with future-proof value-added possibilities. At the same time, the ‘heat-as-a-service’ product creates clear advantages for everyone: tenants enjoy greater comfort and the planning security of a long-term contract with a fixed heating price for years to come. Property values are increased through an improved emissions balance and without additional costs or loss of rent due to renovations or new installations. Ultimately, the energy system acquires additional decentralised storage capacity and marketable flexibility “.

 

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About GreenCom Networks
GreenCom Networks is a leading energy IoT company with offices in Munich, Germany and Sophia-Antipolis, France. GreenCom has been developing the energy system of the future since 2011. With its Energy Information Brokerage Platform (eibp), GreenCom integrates distributed assets such as photovoltaic systems, battery storage, electric vehicle chargers and heat pumps. Building on its industry-leading platform, GreenCom enables white-label end-customer services such as energy cooperatives and energy flat rates. GreenCom also offers optimisation and visualisation of energy flows in homes, for utilities and manufacturers of energy-relevant devices. For more information, please visit www.greencom-networks.com

About GETEC
GETEC is a leading partner for industry and the real-estate sector delivering smart, efficient and green energy solutions in Germany and beyond. Our promise “We have the energy for more” is the guiding principle for more than 1,500 employees who use their outstanding engineering expertise, excellent regulatory competence, quick action and proven sustainability skills to navigate our customers through an increasingly complex energy world while consistently reducing their carbon footprint. GETEC is active at over 40 locations in eleven countries and generated total operating revenue of around €700 million in 2019. Find out more about the GETEC Group at www.getec-energyservices.com


Luxexcel advances AR smartglasses

Starting a collaboration with WaveOptics, MVP portfolio company Luxexcel is making a next step in advancing its technology for Augmented Reality prescription eyewear for fashionable consumer smartglasses

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Eindhoven, The Netherlands; Oxford, United Kingdom – February 10th, 2021 – 

Luxexcel, the technology leader in 3D printed prescription lenses, and WaveOptics, the foremost designer and manufacturer of waveguides and light engines, have collaborated to create an innovative module integrating three of the vital elements required for developing consumer Augmented Reality smartglasses: a 3D printed prescription lens, a waveguide, and a projector.

The module, manufactured with Luxexcel’s patented 3D printing platform, features a fully encapsulated waveguide in the curved body of a 3D printed prescription lens. High-quality images are maintained because the waveguide remains completely flat and an air gap is created during the printing process. The 3D printed structure also provides an accurate mounting for the projector ensuring perfect alignment when assembled into an optical module.

Guido Groet, Chief Strategy Officer at Luxexcel says, “About 70% of the adult world population today need vision correction to see their best. Providing consumers with a single device that integrates both their prescription requirements, as well as smart technologies from leaders such as WaveOptics, is a prerequisite in enabling the adoption of smartglasses by the mass consumer market. The combined strengths of the partnership: Luxexcel’s 3D printing platform and WaveOptics’ waveguides, create Augmented Reality prescription eyewear that everyone has been waiting for.”

 

Phil Greenhalgh, Chief Technology Officer at WaveOptics added, “The combination of WaveOptics’ Katana waveguide, the thinnest and lightest waveguide on the market today, with the complete encapsulation provided by Luxexcel’s printed lenses creates an incredibly compact and robust solution that will withstand real-world use. This partnership provides a solution for two of the major product planning challenges all of our customers face: how to address prescription accommodation and delivering a robust waveguide in a form factor that can go into a consumer product.”

This module will be shown for the first time at the SPIE. AR, VR, MR conference in March 2021 where both companies will feature in a virtual fireside chat to discuss the partnership and their respective technologies.  Prototype samples of the module will be available for customers in Q2 2021.

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About Luxexcel
Luxexcel (www.luxexcel.com) is the only technology provider that enables customers to 3D print prescription lenses. We have a unique understanding of the 3D printing technology and prescription eyewear market. Our expertise help lens designers and manufacturers to manufacture eyewear that combines prescription power and smart technologies. We do this with our unique patented 3D printing technology that embeds waveguides, electronics, sensors, and films inside the lens and print prescription power on or around it. The smart technology is fully encased in the lens material as we print. Luxexcel lenses are durable and thin and look like conventional eyewear. We offer our technology as part of a complete 3D printing volume manufacturing platform, which includes a printer, materials, and software, for both traditional, as well as for smart eyewear.

 

About WaveOptics
WaveOptics (www.enhancedworld.com) is based in Oxfordshire UK, founded by experts in AR, WaveOptics designs and manufactures waveguides and projectors to unlock the potential of augmented reality for the mass market. WaveOptics products address three major challenges for AR wearables: design, cost, and optical performance. Our waveguides are readily customisable to meet the demands of any customer and can be manufactured at scale, while delivering clear, crisp, high quality AR images.


asgoodasnew secures new funding

asgoodasnew snaps new funding to accelerate the
re-commerce revolution in high-tech consumer electronics

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Berlin, December, 11 2020

asgoodasnew, the Berlin-based European re-commerce leader specialising in high-tech consumer electronics, has announced a new  financing round led by Northern European specialist growth investor Verdane. Exisiting investors Munich Venture Partners, Brandenburg Capital, and pd ventures also participated in the round.

The investment will support asgoodasnew’s successful business development and further international expansion, drawing on Verdane’s extensive knowledge of the European re-commerce space and experience from over 30 previous e-commerce investments. To date, asgoodasnew has helped over 1,000,000 customers throughout Europe to impact their ecological footprint by finding a new home for their preloved gadgets or helping them purchase a fully tested, refurbished device. Powered by this change in consumers’ perception and behaviour, asgoodasnew’s revenues have grown by more than 150% over the past 5 years.

Daniel Boldin, CEO of asgoodasnew said: “With Verdane onboard, we will strengthen our pioneering position in European consumer electronics re-commerce as the preferred supplier for high-tech gadgets, tested and reconditioned in Germany. The take, make and dispose model for consumer electronics is going to perish. There is a huge and environmentally impactful business opportunity in enabling consumers to extend the lifecycle of their beloved high-tech gadgets. asgoodasnew’s success shows that it is possible to combine a circular business model with double-digit profitable growth and high capital efficiency.”

Founded in 2008, asgoodasnew operates in Germany, Austria, France, Spain, Italy and Poland. According to the company’s calculations, each of its more than one million reconditioned and resold iPhones, laptops, tablets, cameras, smartwatches and wifi speakers sold save up to 50kgs of CO2 compared to new production of a corresponding gadget, tallying to a total potential CO2 savings impact of 50,000 tonnes of CO2 to date. By partnering with Verdane, the company aims to offer more customers a smart and affordable way to impact their individual ecological footprint.

The company’s integrated consumer-to-business-to-consumer (C2B2C) business model covers the entire value chain of the re-commerce market from sourcing and testing to refurbishment and distribution, delivering a strong value proposition with high customer retention rates and independence from third parties. A popular feature is its comprehensive 30-month warranty, offered on all products since 2014 as a testament to asgoodasnew’s extensive technical know-how, and pioneered by the company since then on multiple European markets. Building on its early understanding of the need for a more sustainable approach for consumer electronics consumption and driven by short customer usage cycles resulting from frequent new product releases, asgoodasnew has emerged as a European leader for refurbished premium consumer electronics.

Maroje Guertl, Principal at Verdane said:We are proud to reaffirm Verdane’s commitment to a more resource-efficient future for the European consumer by welcoming asgoodasnew into the Verdane portfolio. Daniel and his team have done an excellent job of building asgoodasnew into a clear leader in its sector with a strong position from which it can develop into a substantially larger European market leader. There is natural complementarity with Verdane’s deep knowledge of the European re-commerce space from prior investments, and we are proud to partner with asgoodasnew on this journey toward circularity for the high-tech consumer electronics market.”

 

Thomas Krause, Chairman of the Advisory Board and Managing Director at Brandenburg Kapital, added: “On behalf of the board, we are very pleased to announce this partnership with Verdane as we set out to accelerate the successful European expansion of the company. We believe we have found the ideal growth partner to help realise our joint vision of asgoodasnew’s future together with Daniel and his team.”

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GreenCom announces investment from Shell

GreenCom Networks announces €12 million equity funding round led by  Shell Ventures

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  • Shell Ventures and Energy & Environment Investment join existing investors (including Centrica and E.ON) to further GreenCom’s mission to become the leading residential energy IoT platform.
  • GreenCom is already connecting many Home Energy Management devices for energy companies such as Centrica, E.ON, ESB, and is rapidly scaling deployment of its platform across Europe.
  • Shell Ventures and EEI bring extensive experience in the distributed energy sector and provide GreenCom a strong gateway to new international markets.

Munich, 2nd December 2020.

GreenCom Networks AG (“GreenCom”) is pleased to announce the conclusion of its latest financing round of €12 million, led by Shell Ventures and supported by Energy & Environment Investment (“EEI”) and existing investors. The investment enables GreenCom to expand its strategy of international growth and to further enhance its pioneering position as the leading residential energy IoT company in Europe.

Shell Ventures, Shell’s corporate venture capital arm, and Japanese venture capital firm EEI have joined existing investors such as Centrica, E.ON’s Future Energy Ventures, Munich Venture Partners and SET Ventures to further advance GreenCom’s state-of-the-art technology solutions to digitally connect distributed assets and provide a leading IoT platform for home energy management. Among others, GreenCom’s platform is able to connect, control and optimise home energy devices such as solar PV systems, battery storage units, heat pumps and electric vehicle chargers, across a range of different models and manufacturers.

Based on its highly scalable and secure software technology, GreenCom enables its customers to use new customer-centric service models such as heating as a service, flexibility revenue, energy flat rates, dynamic tariffs, home energy management or energy communities. Through GreenCom, end users can easily and conveniently manage their energy use, optimise costs and share energy with their communities through one single platform.

GreenCom is already partnering with various companies to offer new services in a digital energy world, such as Centrica. For the UK utility giant, GreenCom is powering the Home Energy Management platform to its UK customers. In addition, GreenCom is connecting and managing over 3 MW of decentralised energy asset capacity for a smart city district in Cologne containing nearly 700 apartments. For its customer RheinEnergie, GreenCom connects assets such as solar PV, battery storages, heat pumps, heating blades, storage tanks as well as district heating and optimises energy flows.

The new funding from Shell, EEI and existing investors will be used to enhance GreenCom’s energy IoT leadership position in Europe, while also leveraging its new investors to penetrate markets outside Europe and connect GreenCom with new heat pump, inverter, and battery storage manufacturers in Asia.

“We have been very impressed by the quality of the technology platform and the management team at GreenCom,” says Jurgen Hornman, Investment Director at Shell Ventures. “GreenCom’s ability to connect, provide insights into, and control distributed energy assets such as solar PV, battery storage, EV chargers and heating devices of various manufacturers greatly enhances a service provider’s ability to offer integrated home energy solutions to end consumers, energy communities and a fast-growing group of prosumers. Christian and the team have also found innovative routes to market through large-scale partnerships. We look forward to supporting GreenCom in its rapid scaling and internationalisation journey.”

Shuichiro Kawamura, founder and CEO of Energy & Environment Investment, says: “GreenCom provides the platform for the much-needed energy systems for the coming decade. Their products enable various types of distributed assets in a smart way by connecting and coordinating with other assets through their cloud. We look forward to connecting GreenCom with our network partners in Japan, such as large utilities or operators and manufacturers of heat pumps, inverters, and battery storage devices. We are excited to join one of the most advanced technology companies enabling energy system transition.”

Christian Feisst, CEO of GreenCom Networks, notes: “With Shell Ventures and EEI we’ve found two excellent new investors towards the future: Shell provides extensive experience in the distributed energy industry with a track record of impactful investments. EEI, as the only venture capital company in Japan focused on the cleantech sector, adds a strong gateway to, and profound knowledge of the energy and distributed asset manufacturer landscape in Japan, one of the fastest liberalising and “greening” power markets in the world.”


Prolupin extends its growth financing round

MVP portfolio company Prolupin, the innovative plant-based protein company based in Grimmen, Germany, today announced the extension of its groth financing round with the investment of the European Circular Bioeconomy Fund.

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The European Circular Bioeconomy Fund (ECBF) is a new pan-European fund that invests in growth companies in the bioeconomy and circular bioeconomy with equity and mezzanine financings. The ECBF is backed by the European Investment Bank (EIB) as the cornerstone investor and by Hauck & Aufhäuser Fund Services S.A. administered in Luxembourg. Backed by the European Investment Bank (EIB) and managed by Hauck & Aufhäuser Fund Services S.A. in Luxembourg, ECBF is the first growth-fund fund exclusively dedicated to the bioeconomy in Europe that focus on catalyzes sustainable innovations.

Since the launch of its vegan brand Made with LUVE in 2015, Prolupin has enjoyed exceptional annual growth. The new financing now enables the company to address the mass market for further growth and international expansion.

In addition to the existing investors, Munich Venture Partners and eCAPITAL, the renowned investors Capricorn Partners and Novax have already participated in the financing round in spring.

The Capricorn Partners, Novax, and ECBF investment brings a broad mix of technology expertise and trade network resources to Prolupin as it seeks to grow its plant-based offerings from lupines both B2B and B2C, including the non-dairy yoghurts, milks, ice creams and cream cheeses on the European market under the vegan Made with LUVE brand.

 

“The ECBF funding will make an important contribution to accelerate the growth of Prolupin within B2B and B2C. The research & development, marketing and distribution we are now able to deploy over the coming years will put our unique Lupine Protein Isolate (LPI) as well as the vegan Made with LUVE brand center stage for customers and consumers aiming for a healthy, sustainable ingredient and lifestyle.”

Malte Stampe (CEO, Prolupin GmbH)

Reiner Kuester, Chairman of the Supervisory Board of Prolupin, stressed: “We are pleased to welcome the ECBF and the expertise it brings to the Advisory Board. With its international network and its focus on sustainability, the ECBF can significantly contribute to strengthening Prolupin’s position as a strong player in the fast-growing market of plant-based foods.

Michael Brandkamp, Managing Partners at ECBF, says: ” Prolupin is a fast-growing plant-based protein company with its successfully established dairy-alternatives brand made with LUVE. The growth in consumer demand for healthier food with a reduced environmental footprint will be long-lasting. With its lupine-based protein Prolupin is well positioned to capture a significant share in this market and to contribute to making our societies more sustainable.”

The investment bank Bryan, Garnier & Co was appointed as exclusive financial advisor for the transaction.


EU Innovation Council invests €17.5 Million in Electrochaea’s Power-to-Methane technology

Electrochaea ́s power-to-gas technology receives funding from the European Innovation Council (EIC), confirming that their market-ready innovations make an important contribution to the goals of the European Green Deal and the UN agenda for sustainable development.
Based on biocatalysis, Electrochaea offers a multiple nationally and internationally patented key power-to-gas technology, which cost-effectively recycles CO2 and at the same time produces CO2-neutral methane from excess electrical energy that can be stored and used as required.

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In total, more than 2,000 European companies applied for the “EIC Accelerator” pilot program. Electrochaea is one of only 64 selected start-ups and medium-sized companies supported bythe Councilwith their projects. The EIC Accelerator program is part of the EU research and innovation program”Horizon2020″. It is aimed at entrepreneurs and SMEs that can apply for grants or mixed financing from grants and equity support. Since this year, around €300 million are available for submissions that promote the European Green Deal. Electrochaea fulfils this requirement in three ways: the long-term storage of renewable energy, production of biomethane, and reduction of the carbon footprint by using CO2 emitted by various industrial sources.

“We are proud to be one of the few selected funding recipients of the EIC. For us, this funding commitment is also a crucial strategic statement,” explains Dr. Doris Hafenbradl, CTO of Electrochaea. “In its rationale, the European Innovation Council confirms for the first time and in all clarity that Europe needs sustainable storage solutions for renewable energy sources and that green gas is indispensable for a sustainable, reliable and comprehensive energy supply”.

The EU funds will be used for the so-called scale-up, the development of the technology from existing pilot plants to commercially scaled plants. With the equity investment, Electrochaea will construct a fully operational 10 to 20 MW plant. The outcome is that customers will benefit: by scaling up and building a sample plant, the risk for commercial projects will be minimized and Electrochaea will be able to offer reliable and highly efficient standardized plants. “The additional financial resources will help us to apply the potential of biological methanation even faster on a commercial scale,” says Hafenbradl. “The European Innovation Council explicitly recognizes the expertise, diversity and motivation of our team as important factors in our success story in constructing industrial pilot plants and forming strategic partnerships with key players”.

Harald Beschid (COO), Doris Hafenbradl (CTO and Managing Director) and Birgit Lewandowski (Director Development) of Electrochaea are pleased about the investment of the European Innovation Council and consider it as a strong political signal. (© Electrochaea GmbH, 2020)