Efficient Energy obtains funding from Santo and MIG Fonds to finance growth of system that uses water as the refrigerant.
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Efficient Energy GmbH, a German manufacturer of water-only chillers, has secured €11 million ($US12 million) from two investment funds, MIG Fonds and Santo, to expand its production capabilities and its laboratory infrastructure, according to Julia Romero, Efficient Energy’s Press Officer.
The investment will enable Efficient Energy to diversify its eChiller product portfolio with the development of higher performance units, opening up new application areas and offering customers a wider choice of solutions, the company said.
Efficient Energy’s eChiller system uses only water as the refrigerant for cooling processes, with high chilled-water outlet temperatures. In the right conditions, it can be significantly more efficient than traditional chillers, the company said. Efficient Energy cited an installation for German printer Brune-Mettcker, in which the system achieved a 75% energy-saving rate.
"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,” said Efficient Energy CEO Georg Dietrich in a press release. “To address this demand, Efficient Energy is investing in the expansion of its laboratory and production capacities.”
“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," added Søren Hein, Partner at MIG Fonds and Manager at MIG AG.
Read more about Efficient Energy’s eChiller technology here.