Orcan Energy, a German waste heat recovery technology company, has raised EUR 28.5 million (~USD 28 million) in a late-stage growth round which was led by TiLT Capital. 

Orcan will be using the funds to accelerate its global presence in established markets such as Europe and the US as well as in fast-growing emerging markets such as the Middle East, North Africa, Asia, and the Pacific. Furthermore, the funds will also contribute to enhancing the company’s supply chain and removing bottlenecks.

Founded in 2008, Orcan Energy develops, manufactures, and sells efficient energy solutions that convert waste heat into electricity based on Organic Rankine Cycle (ORC) technology. The company’s technology capitalizes on small to medium heat sources in the low-temperature segment which is applicable in a wide range of industries such as marine, cement, steel, geothermal, oil and gas, and power generation.