Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Wermuth Leads Investors in OTI Greentech on Oil Recovery Demand

Feb. 27 (Bloomberg) -- Wermuth Asset Management GmbH’s Green Gateway Fund led investors in OTI Greentech Group AG to help the Swiss provider of oil recovery and waste treatment services expand in North America, Russia and the Middle East.

Green Gateway agreed to invest 7.2 million Swiss francs ($7.7 million) in two phases with the second due later this year, Wermuth, based in Mainz, Germany, said in a statement. OTI raised 4 million Swiss francs from investors with this financing round, according to the statement.

As nations seek to boost oil output from unconventional sources such as oil sands to curb imports, demand for technologies that efficiently recover or recycle the fuel is increasing, according to Zug-based OTI. The company also cleans up industrial machinery, tanks and oil spills.

Green Gateway, with 110 million euros ($144 million) in commitments and a 250 million-euro target, invests in energy and resource efficiency companies, according to the statement.

To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net

To contact the editor responsible for this story:

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.