GERMANY: Efficient Energy, the chiller manufacturer using water as the refrigerant, has secured a further €11m funding from its investors to expand its laboratory infrastructure and production capacities.
The latest capital injection from investment funds Santo and MIG Fonds will also enable the Feldkirchen-based innovator to diversify its product portfolio with the development of higher performance eChillers.
“The transformation of the refrigeration market is in full swing. We are increasingly seeing the wish of major customers to use sustainable and environmentally friendly refrigeration systems only. To address this demand, Efficient Energy is investing in the expansion of its laboratory and production capacities,” commented Efficient Energy CEO, Georg Dietrich.
Dr Soren Hein, partner of MIG Fonds manager MIG AG, added: “The global refrigeration market is growing steadily and is facing the biggest transformation in its history. New climate protection laws and the F-gas regulation are putting mainstream technologies to the test. Efficient Energy has successfully established the refrigerant water in the market and we regard the company as playing a key role in shaping the transformation of the refrigeration industry towards environmentally friendly technologies.”