ECOP Raises €10.5M to Advance Industrial Heat Pump Technology
ECOP, a portfolio company of InnoEnergy, has successfully completed its latest financing round, raising a total of €10.5 million.
KSB, a globally operating pump and valve manufacturer, led the round, with the European Innovation Council Fund (EICF) acting as co-investor. Other investors included InnoEnergy, New Energy Technologies, Finadvice and almost all existing investors. ecop will use the new capital to expand its production capacity and further develop the new rotor design for commercial-scale use.
A novel technology with a wide range of applications
The ecop heat pump enables industries and municipalities to decarbonise quickly and efficiently, while securing their long-term heat supply. With an output temperature of up to 200 °C, it is ideal for a variety of industrial processes. Unlike conventional heat pumps, ecop uses a 100% climate-friendly, non-toxic, non-flammable working medium. The rotation speed can be flexibly adjusted to adapt to different heat source temperatures. This makes the heat pump highly efficient for cooling applications, such as in data centres, as well as for raising the temperature of waste heat for use in a variety of other applications.
The superior design of ecop’s rotation heat pump has several benefits:
- Sustainable production of heat without dependence on fossil fuels
- Large temperature range
- Efficient use of waste heat
- Cost saving
Strong backing and partnerships to help scale up technology
As one of the world’s leading manufacturers of pumps and valves, KSB, the lead investor, brings many years of experience in the development and production of rotating systems. This expertise makes KSB the ideal partner for ecop in scaling up industrial heat pump technology.
We are experiencing increased global energy demand, with the energy mix shifting significantly in favour of CO₂-avoiding methods. About two-thirds of industrial energy demand is for heat, so there is enormous decarbonisation potential here. The collaboration between ecop and KSB goes beyond a top-level technology partnership. Both companies share a vision of a sustainable future
Dr Stephan Timmermann, KSB management spokesperson
With this financing round, we are sending a strong signal regarding the transition to using heat in industry and the district heating sector. Support from KSB, the EIC Fund and our other partners will enable us to start producing our rotation heat pump on a large scale, expand our technology globally and establish ourselves as leaders in the higher performance areas of large-scale heat pumps
ecop, CEO Fabian Sacharowitz
We are also gaining strong innovation partners with in-depth technological expertise who will specifically support us in further developing our technology. This partnership paves the way for us to establish our technology as the leading solution for industrial heat pumps.
Bernhard Adler, CTO and founder of ecop
This milestone, achieved with the support of new shareholders and cooperation partners, enables ecop to continue its growth. A second closing is planned for later this year.
Share this page
