HeatMatrix raises €2.4m in series-B

Rabobank-managed Dutch Greentech Fund led the round as a new investor, which also saw Innovation and Investment Fund Gelderland, managed by PPM Oost, join as a new backer.

Existing German investor Sirius Venture Partners has reinvested in the company via its €16.25m Sirius EcoTech Fonds Düsseldorf vehicle. Dürr, a German provider of products for automobile manufacturing, also reinvested in HeatMatrix.

The fresh capital will be used by HeatMatrix to continue rolling out its sales operations in Germany, eastern Europe, the Nordic region and Asia.

Previous funding
In February 2012, Sirius acquired a 15% stake in HeatMatrix via its EcoTech Fonds Düsseldorf vehicle. Dürr acquired a 15% stake in the business at the same time.

Company
Founded in 2008 and headquartered in Rotterdam, HeatMatrix develops and produces plastic heat exchangers for waste heat recovery from industrial flue gas.

The company currently produces three heat exchangers: HeatMatrix Luvo, which heats cold combustion air with hot flue gas; HeatMatrix Disc, which is designed for corrosive flue gas streams; and HeatMatrix Multi Purpose, which is designed for liquids and heat exchanges between corrosive liquids.

People
Robert Sakko is the director of HeatMatrix.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Benelux
• Industrials
• Netherlands
• Sirius Venture Partners GmbH
• Rabobank