IBB and eCapital reinvest in Geo-En

The deal value is understood to be in the region of €5-9m.

Geo-En states it plans to grow by combining its patented Geo-En technology with other modules for the generation of renewable heat. It also aims to expand its product range and consolidate its market position.

Previous funding
The two investors backed the company with €4m of growth capital in March 2012. The investment was intended to help the business expand and enhance its technology, as well as to establish its products on the market.

Company
Headquartered in Berlin, Geo-En provides high-tech turnkey heating and cooling solutions that utilise geothermal energy. It uses GeoHybrid, a hybrid system for combined heat and power, using a heat pump and a geothermal high power source such as the Geo-En integral probe.

The company has developed single-borehole technology to provide groundwater extraction and recirculation, permanently extracting energy from the smallest spaces. It is also working on systems that combine geo-thermal with solar and heat recovery.

People
Nikolaus Meyer is CEO of Geo-En. Paul-Josef Patt is CEO of eCapital. Marco Zeller is managing director of IBB.

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• Topics
• DACH
• Industrials
• Expansion
• Germany