German utility E.ON increases stake in small-scale ORC heatpower supplier Orcan Energy
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.
Dr. Andreas Sichert, CEO Orcan Energy AG: “Together with E.ON we want to reach even more companies. In Germany and internationally”.
“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.
We reported in August of this year on the project. Orcan reported that the six efficiency PACKs are scheduled to last 15 years. The units being set up can “be used at both low and high temperatures and generates up to 200 kWel net electricity at inlet temperatures of up to 150 degrees Celsius. The eP 150.200 is supplied ready for connection in a 40-foot container for installation, in which the cooling system is already integrated. In particular, the robust design, the simple construction and the quick installation of the modules make the application economically highly interesting.”
Source: Orcan Energy release