Micropelt Raises Funds for Market Launch and Expansion
Micropelt has raised 6’5 Mio EURO for the roll-out and global expansion of its thin-film thermoelectric energy harvesting technology. The fresh liquidity include a 5 Mio EURO investment by Ludgate Environmental Fund (LEF), a 1 Mio EURO by the Fund of Mitsubishi UFJ Capital (MUCAP) and 0’5 Mio EURO by the existing shareholders IBG / Goodvent, KfW, L-Bank and SHS.
Micropelt’s thermal micro energy harvesting technology, which uses waste heat to create electricity, will be rolled out to high-growth cleantech markets in Europe, Japan and globally. The microchip-sized device displaces batteries in automated equipment and has multiple domestic and industrial applications. Examples of initial applications for the device include in radiator valves, industrial automation and remote monitors that assess the condition of technical equipment.
Bill Weil, Chief Investment Officer of Ludgate Investments Limited, the Investment Adviser to LEF said: ’We are very excited about the significant environmental and economic benefits of this product, and its market potential. Eliminating the disposal and maintenance of batteries is important and the Micropelt solution has application across a wide number of industrial sectors.’
Yoshihiro Hashimoto, President of Mitsubishi UFJ Capital Co., Ltd., said: ’Innovation in the fields of Environment & Energy is a global topic, where we see energy harvesting as promising technology. With consistent R&D, entering the production stage, Micropelt is a leading thermoelectric company, we support their success in Japan and Asia.’
Micropelt opened the thin-film thermoelectric production facility, a world’s first, in June 2011 in Halle, Germany. Since then the company has been focused on increasing production volumes and reducing per unit cost. Fritz Volkert, CEO of Micropelt, said: ’This investment provides Micropelt with a strong boost to our production capacity and the ability to drive the commercialisation of our technology. We are delighted that Ludgate Environmental Fund has spearheaded, this very important funding round, participating alongside MUCAP.’
Hubertus Leonhardt, chairman of Micropelt’s supervisory board and Managing Partner of SHS Gesellschaft fur Beteiligungsmanagement, said: ’We are delighted that Micropelt has reached a new stage within its successful development. After having opened their production site in 2011, the new investment round now enables Micropelt to expand globally.
More news and information regarding the latest developments in Smart Grid electronics can be found at Darnell’s SmartGridElectronics.Net.