E.ON Announces It Has Increased Its Stake In Orcan Energy

The energy group - E.ON has increased its stake in Orcan Energy in a financing round and is now the largest shareholder. Orcan Energy is a pioneer in the development and marketing of ORC-based waste heat solutions and, with more than 250 ORC products sold worldwide, is a leader in this field.

Customers benefit from CO2-free electricity at extremely low electricity costs. The efficiency PACKs from Orcan Energy can be installed wherever waste heat is generated. Orcan solutions are now used in industry, engine power plants and marine applications.

Surplus geothermal energy

The efficiency PACKs also contribute to greater efficiency in the field of renewable energies such as geothermal, biogas and solar. Orcan Energy only uses proven standard components in production, which makes the solutions particularly stable and low-maintenance.

The waste heat solutions from Orcan Energy are another attractive component in this respect"

"We make the sustainability journey profitable for our customers. The waste heat solutions from Orcan Energy are another attractive component in this respect. We can now help our industrial and corporate customers on an even broader basis to significantly reduce their energy costs and decarbonize their business," says Daniel Joisten, Head of Strategy & Transformation at E.ON Business Solutions, explaining the increased commitment to Orcan Energy.

Successful sales partnership

The increase in financial participation will be accompanied by the expansion of the successful sales partnership between E.ON and Orcan Energy, in which E.ON acts as a service, distribution and project partner of Orcan Energy. The cooperation creates an essential prerequisite for actively shaping both the German domestic market and international energy markets.

"We are proud that E.ON, as an experienced and reliable anchor investor, has increased its commitment and look forward to the realization of further major projects. Together with E.ON, we are equipping Orcan Energy for the future with new innovative business models," says Andreas Sichert.

As their first major joint project, both partners are currently installing six efficiency PACKs at the geothermal plant in Kirchweidach, Bavaria, to generate green electricity from surplus geothermal energy. Further projects are already on the way.