--- Connecting LPs & GPs worldwide
--- Connecting LPs & GPs worldwide
Swedish technology investor Industrifonden has invested SEK5m (€549,000) in SEEC, which has developed an energy system for the heating and cooling of large buildings which stores excess heat for later use.
Further financing was received from existing investors STING Capital and Almi, bringing the total funding to SEK9m.
Established in 2006, SEEC develops, sells and leases a system for storing energy which is designed for heating and cooling large buildings such as apartments and industrial properties.
The system only releases energy when it is needed using traditional heat pump technology and stores the rest for later use, and has won the company wide acclaim within clean-tech circles worldwide.
“It takes a lot of energy to heat and cool buildings, but a lot is wasted,” said Anders Schelin, an investment manager at Industrifonden.
“SEEC’s technology remedies the situation, and it is also much more efficient and less expensive than alternative technologies,” he added.
Martin Gemvik, an investment manager at STING Capital, said, “SEEC has developed a concept which is of interest to many potential customers, even outside Sweden.
“To ensure the company’s continued growth and meet existing demands, Industrifonden is a perfect fit for SEEC, and has the relevant expertise, experience and financial muscle needed to help the company expand,” he added.
Last month, Industrifonden and Nordic-focused cleantech private equity fund Sustainable Technologies Fund invested a combined SEK100m (€11m) in renewable energy developer Triventus Group, which is active in wind power, biogas and small-scale hydroelectric power.
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Swedish private equity firm Litorina has bought clothing brand Björnkläder from its British owners, the Davis group, for £28.5m (€34m)
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