Innecs Power Systems secures over € 4 mln. investment for rollout of energy conversion systems
from left to right: Gijs Schimmel (Innecs), Hans Maenhout (Finindus), Robert Bavelaar, Reidar Koolen (both Innecs), Bart Mul (BOM), Nienke Vledder, Rinke Zonneveld, Jasper Geselschap (all Innovation Quarter) en Kristoff Praet (Innecs)
Innecs Power Systems, the developer of premium industrial energy conversion systems, has secured a € 4 mln. investment from Finindus, ENERGIIQ and BOM.
Rinke Zonneveld, director of InnovationQuarter, announced the investment at the Energy in Transition Summit at the Onderzeebootloods in Rotterdam on Wednesday, 11 April. Zonneveld believes that Innecs will make a tangible contribution to the energy transition in the industrial sector. Innecs is the first investment by the ENERGIIQ energy innovation fund.
Energy savings, CO2 reduction and attractive payback periods
Innecs started out as an engineering consultancy in 2004 and aimed to develop its own products. It has since developed three extremely efficient and robust devices: a low NOx burner (the BoilerBurner), a small steam turbine (the SteamExpander) and a small gas turbine (the PowerBurner). By applying extensive knowledge of turbine technology with smart control systems, Innecs has created premium products that can be used by a wide industrial audience. The smart design and modular production process keeps the purchase price down without compromising on quality. This, combined with the energy savings, results in attractive payback periods.
Made in Holland
Innecs Power Systems devices are an appealing example of advanced industrial products developed and produced on home soil. The extra bonus is that the Innecs products generate energy locally, thus enabling industry to make a substantial contribution to the energy transition. As industry is responsible for 68% of CO2 emissions in the Netherlands*, it is important to develop industrial applications for energy reduction: this is where genuine gains stand to be made in energy transition.
Reidar Koolen, CEO of Innecs Power Systems: “Industry bears a great deal of responsibility for achieving climate goals, and energy efficiency is the obvious way to give shape to the energy transition in the coming years. For our customers, the return on investment is and always will be their main consideration when investing. Innecs therefore regards it as its mission to provide affordable energy efficiency so that the energy transition is financially attractive and thus embraced.”
Finindus Investment Director Hans Maenhout: “The Innecs team has succeeded in developing, with relatively modest resources, no fewer than three high-tech products. The pragmatic design means that their solutions often have payback periods of less than three years, in some cases even less than two. This makes the technology very attractive to larger industrial clients too. It is not surprising, therefore, that international clients have also found their way to Innecs.”
ENERGIIQ Fund Manager Nienke Vledder: “Innecs Power Systems is an innovative company with its production and development based in the Netherlands. It aims to provide affordable technology that helps industrial clients increase their energy efficiency and make environmental gains. I am confident that it will achieve its goals, and we are glad to support the company in its further growth with this investment from ENERGIIQ.”
Director of BOM Brabant Ventures Miriam Dragstra: “Innecs Power Systems is not just accelerating the energy transition today but is also experiencing wonderful development as a future-oriented business. BOM looks forward to the international growth of this fantastic tech business.”