Triogen raises €6.5m from Wadinko et al.

Wadinko, a new investor, led the funding round. All other participants were existing investors in Triogen.

The fresh funding will be used to accelerate international expansion. The company recently started trading in Finland, Slovakia and Latvia, taking Triogen's total of European countries in which it operates to 10.

According to Triogen's website, its main shareholders are Dutch venture capital firm Yellow&Blue and Dutch company Stegge Construction and Engineering.

Yellow&Blue focuses on investing in European companies that operate within the renewable energy, clean flossil energy and energy efficiency industries. The firm typically invests €500,000-4m per transaction.

Wadinko is a Dutch private equity firm that focuses its investments predominantly in the Netherlands.

Previous funding
In 2011, Triogen received €4.5m in a funding round led by Yellow&Blue.

Company
Triogen, founded in 2001, is based in Goor and currently employs 20 staff. The company's products are designed to convert waste heat into electricity and hot water. The solutions are based on the organic Rankine cycle principle, which uses an organic fluid with a low boiling point to recover industrial waste heat, which has a lower temperature.

Triogen's products are used in landfill sites, waste water treatment plants, mine gas sites and biomass combustors. The company claims that the use of its technology would result in a reduction in fuel costs and CO2 emissions.

People
Ron aan de Stegge is the director of Triogen. Wil Wesselink is a managing director at Wadinko, while Albert Fischer is a managing director at Yellow&Blue.

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• Topics
• Expansion
• Benelux
• Industrials
• Netherlands
• Yellow&Blue Investment Management