Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


EnOcean receives venture capital investment of 4.5 million euros
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.

About EnOcean

EnOcean GmbH, established in 2001 and headquartered in Oberhaching near Munich, develops innovative, self-powered wireless sensor technology. The company manufactures and markets service-free and flexible wireless sensor solutions for use in buildings and industrial installations. The products are based on a combination of miniaturised power converters and reliable wireless transmission. More than 500,000 of the company's wireless components are already in use.

EnOcean GmbH employs more than 40 people in Germany and the USA, and cooperates with well-known manufacturers of system solutions for building and industrial installations engineering worldwide. EnOcean has won numerous awards, most recently the 'Batimat Innovation Award in Bronze' at Batimat 2007, as well as the 'Best innovation in green product and services' award of the Working Buildings Week Innovation Awards 2007, the 'Building Product Innovation Award' at the 100% Design London Awards 2007, the 'BuildingGreen’s 2007 Top-10 Green Building Products' and the title 'Technology Pioneer 2006' of the World Economic Forum. EnOcean GmbH is a promoter of EnOcean Alliance Inc., established at the light+building show 2008 on April 7.

For more information, please visit www.enocean.com.

Press contacts:
Andreas Schneider Beky Hughes
EnOcean GmbH Neesham Public Relations
T: +49 89 673 46 89 35 T: +44 (0) 1296 628180
E: andreas.schneider@enocean.com E: bekyh@neesham.co.uk

About Siemens Venture Capital:
Siemens Venture Capital (SVC) is the corporate venture organization for Siemens AG, one of the largest global electronics and engineering companies, with reported worldwide sales of more than 72 billion euros in fiscal 2007.

SVC's goal is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in the focus areas of long-term growth markets such as Energy & Environmental Care, Automation & Control, Industrial & Public Infrastructure, and Healthcare.

To date, we have invested over 800 million euros in more than 100 startup companies and 30 venture capital funds, making venture capital at Siemens an integral component of the Siemens innovation and growth strategy and supplementing its in-house research and development activities (3.4 billion euros and 32,500 R&D experts in 2007).

SVC is located in Germany (Munich), in the U.S. (Palo Alto, CA and Boston, MA), in China (Beijing), in India (Mumbai), and is active through Siemens´ regional unit in Israel.

SVC is part of Siemens Financial Services and of a greater network at Siemens whose mission is to drive technological innovation by supporting startup companies. In addition to Siemens Venture Capital, Siemens Technology Accelerator and Siemens Technology-To-Business Center also contribute to Siemens’ innovation strategy. Their individual mandates are defined according to financing stages and industry focus. More information can be found at: www.siemensventurecapital.com

About Siemens Financial Services
Siemens Financial Services (SFS) is an international provider of financial solutions in the business-to-business area. With about 1,900 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, we support Siemens as well as non-affiliated companies, focusing on the three sectors of energy, industry and healthcare. We finance infrastructure, equipment and working capital and act as a competent manager of financial risks within Siemens. By leveraging our financ-ing expertise and our industrial know-how we create value for our customers and help them strengthen their competitiveness. For more information see: www.siemens.com/finance.

# # #


Publisher Contact Information:

Siemens Venture Capital GmbH (SVC)
+49 89 673 46 89 35
andreas.schneider@enocean.com

Company profile of Siemens Venture Capital GmbH (SVC)
Past press releases of Siemens Venture Capital GmbH (SVC).

Data


26,016
Tech investments
From our Online Data Service
16,828
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Aug 19€7.0MAgriculture related
Aug 19€9.0MInternet commerce
Aug 19€10.0ME-Commerce
Aug 19€63.0MBusiness applications
Aug 16€16.0ME-Commerce
Aug 16€6.0MBusiness applications
Aug 16N/ASoftware development

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.