Portugal’s Banif Investment Managers has spearheaded a second round of funding for Austrian biomass power producer Cycleenergy, through a €6 million investment from its New Energy Fund. Combined with contributions from 3TS Capital Partners and current shareholders, the Banif Investment deal brings the total for this round of funding to €10 million.
Cycleenergy plans to use the capital to further develop the company’s presence in the Austrian biomass power industry.
Cycleenergy (www.cycleenergy.at)
Established in 2005, Cycleenergy was from its inception, devoted to providing sustainable energy and biomass solutions to the Austrian market. The company designs, develops, and builds biomass power plants like their first wood-chip CHP facility in the northern part of the country.
To date Cycleenergy’s total investment in biomass power plants is nearly €60 million. The company operates plants in Allentsteig, Aschach, Gresten and maintains offices in Vienna.
3TS Capital Partners (www.3tscapital.com)
3TS Capital Partners is one of the leading private equity and venture capital firms in central and Eastern Europe, operating throughout the region with offices in Budapest, Bucharest, Prague, Vienna, and Warsaw.
3TS primarily targets growth capital investments in technology, media, and telecoms. The preferred total investment size is in the range of € 5.0 million to € 15.0 million. 3TS Capital is jointly sponsored by 3i, Sitra, EBRD, KfW, and Cisco.
October 6, 2009
Austria, Central & Eastern Europe, Investment, Private Equity News