German venture capital company eCAPITAL entrepreneurial Partners AG has participated in the second round of funding of Smart Hydro Power GmbH with its Cleantech Fond.
In this round, the company, which develops, manufactures, sells and markets micro-hydro power plants, will receive further capital to the amount of EUR2.7 million. The capital increase is earmarked for the financing of reference projects and the development of international sales and marketing. High-Tech Gruenderfonds (HTGF) is also involved in Smart Hydro Power GmbH.
"Smart Hydro Power has developed a promising product with an enormous market potential. With our investment via eCAPITAL Cleantech Fonds, we will be part of the company’s future growth", says Dr Michael Lübbehusen (pictured), Managing Partner of eCAPTIAL AG. The micro-hydro power plants developed by Smart Hydro Power are optimised for global use in remote areas and have the potential to fully replace expensive, ecologically harmful diesel generators and thus save costs. "Both an international team and an extensive network are necessary for this approach. Smart Hydro Power brings all this to the table", explains Lübbehusen.
Dr Karl Kolmsee, Managing Director of Smart Hydro Power, issued the following statement on the finalised closings: "This capital increase will enable us to install first reference projects and to expand our international sales and marketing. In addition, we will profit from the know-how which eCAPITAL offers as an experienced investor." The signs at Smart Hydro Power are already pointing to growth: from 2012, the company plans to produce 250 micro-hydro power plants per year.
High-Tech Gruenderfonds is the second investor committed to Smart Hydro Power. Back in 2011, HTGF became part of the seed financing. Andreas Quauke, Senior Investment Manager of HTGF adds: "Smart Hydro Power’s technology allows for resource-saving and sustainable energy production, which, at the same time, is extremely efficient. We see great potential for the experienced team to open up international markets for their product."
With its micro-hydro power plants, Smart Hydro Power addresses the market for ecological, decentralised energy supply, particularly in fast-growing developing countries. The plants are characterised by their robust construction, low maintenance and easy installation. The operation takes places without structural interferences into the sensitive eco-systems of rivers. The turbines generate power of up to 5 kW and are used for the power supply of residential buildings, workshops or hospitals.
The plant is simply commissioned according to the "plug & play" principle: it does not require installation of any external infrastructure and meets the International Energy Agency’s requirements for the protection of fish and consists of water-friendly materials (aluminium and polyethylene). The self-supporting system can either be attached by ropes to the shore or with an anchor to the bottom of the river.
