Lenders including 3i and Wellington Partners invest in the company's expansion
Oberhaching/Munich, 19 August 2008
EnOcean GmbH has received 4.5 million euros for acquisition of new markets worldwide and continued development of its self-powered wireless technology for energy-efficient systems in the building sector. This brings the company’s total amount of venture and growth capital since it was founded to over 20 million euros.
EnOcean is the market leader in the field of wireless sensors for applications in building and industry. With an annual turnover and sales growth of 100 percent, the company has sold some half a million units and estimates the market potential for self-powered wireless modules to be several hundred million modules a year. New international customers include Masco Corporation, USA; Leviton Company Inc., USA; Honeywell International Inc., USA; and Eltako GmbH, Germany.
Due to the major success of the EnOcean Alliance, which manages worldwide standardisation of EnOcean technology and co-finances the marketing of products that use EnOcean technology, lendors and investors had even further incentive to invest in EnOcean’s expansion.
“This new financing will be focused on expanding the European and North American markets, and establishing new markets, especially in Asia. In addition, we're investing in further development of our technology and products,” commented Uwe Thumm, CFO of EnOcean GmbH.
The investors with the largest shares are Wellington Partners GmbH, Munich and 3i Group plc, London. Venture capital has also been provided by Emerald Technology Ventures AG, Zurich; Siemens Venture Capital GmbH, Munich; Siemens Technology Accelerator GmbH, Munich; BayTech Venture Capital Beratungs GmbH, Munich; and ATMOS S.p.A., Milan.
Rolf Dienst, general partner of Wellington Partners GmbH, sees very high growth potential ahead for EnOcean GmbH. “I'm convinced that EnOcean can tap this enormous market potential with its technology for energy-efficient solutions,” said Dienst, “You might say EnOcean technology is the quasi foundation for smart, green buildings.”
EnOcean's business model will remain unchanged with this new investment and the target market will remain sensor technology for sustainable buildings.
