EnOcean Receives Venture Capital Investment Of €4.5 Million

August 21, 2008 by Jeff Shepard

EnOcean GmbH announced that it has received €4.5 million 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.

EnOcean describes itself as the market leader in the field of wireless sensors for applications in building and industry. With a stated annual turnover and sales growth of 100%, 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 Corp., Leviton Company Inc., Honeywell International Inc., and Eltako GmbH.

According to the company, due to the major success of its EnOcean Alliance, which manages worldwide standardization 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, and 3i Group plc. Venture capital has also been provided by Emerald Technology Ventures AG, Siemens Venture Capital GmbH, Siemens Technology Accelerator GmbH, BayTech Venture Capital Beratungs GmbH, and ATMOS S.p.A..