Siparex and Calao back Enertime with €1.8m

Individual investors also provided capital as part of the transaction.

This marks Enertime's second round of funding: in 2011, Siparex (via the FCPI Siparex Proximité Innovation fund, which also backed this latest investment) and Amundi Private Equity provided €500,000 and €1m respectively in a €1.5m round.

Enertime will use the fresh capital to invest in a new assembly line in the Paris region and bolster its development efforts in the Asian markets.

Company
Founded in 2008, Enertime develops thermodynamic machinery that converts heat to electricity. The company targets industrial clients that aim to reduce their energy consumption by converting some of the heat produced as part of their activity into power.

With a 15-strong headcount as of last year, Enertime generated a €1m turnover in 2013 (when it first started commercialising its technology) and posted a €927,800 loss.

People
Andreas Gall led the deal for Siparex, while Calao Finance was represented by Jean-March Schaub.

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• Topics
• Expansion
• France
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• France
• Siparex