Triogen Group BV, a Dutch maker of equipment that turns waste heat into electricity and water, raised 6.5 million euros ($8.7 million) to expand.
New investor Wadinko NV led the funding round, which also attracted existing investor Yellow&Blue Investment Management BV, Goor-based Triogen said today in a statement.
Triogen’s technology can be installed in biomass power stations, factories and wastewater-treatment plants. The company is benefiting from increased demand to convert waste heat into electricity and hot water as businesses from manufacturers to utilities seek to generate cleaner power and boost efficiency.
“We see significant opportunities for our technology,” Director Ron Aan de Stegge said in the statement. Triogen, which operates in Europe, made its first sales in Finland, Slovakia and Latvia in the first half, he said.