Austrian Bioenergy Group Raises Expansion Capital

Cycleenergy, an Austrian bioenergy group, closed EUR 6.7 million in equity financing for expansion of its biomass and biogas power plant activities in Central and Eastern Europe.

Cycleenergy, an Austrian bioenergy group, closed EUR 6.7 million in equity financing for expansion of its biomass and biogas power plant activities in Central and Eastern Europe.


3TS Capital Partners, a leading CEE growth capital investor backed by 3i in London, led the round. The investment round consists of EUR 4.3 million from 3TS Central European Fund II and EUR 2.4 million from founding shareholder Ventacc.

Florian Dietz, CFO of Cycleenergy commented "We have over 150 MW of capacity in our project pipeline. Closing this round of fundraising enables us to accelerate our business development plans in the region. This is the first step in a series of transactions that should allow us to invest over EUR 100 million in construction and acquisition of bio-power plants across CEE countries."

The company is currently completing construction of a 5.5 MW (nominal) woodchip fired biomass facility in northern Austria. The plant uses OCR technology and is expected to go online this summer.

"Over the past two years we have analyzed various investment opportunities in cleantech, energy and environment sectors in Central Europe. Cycleenergy is now our first cleantech investment with more to come", stated Pekka Maki, Managing Director of 3TS. "We are very pleased with the company's strong management team and financial strength. 3TS has the experience and the resources to support Cycleenergy in becoming one of the leading regional bioenergy players."

Featured Product

GreenFasten™ solar panel roof mount hardware, watertight, USA made

GreenFasten™ solar panel roof mount hardware, watertight, USA made

The GreenFasten™ - GF1 system utilizes the patented watertight technology EcoFasten Solar® is known for. The flashing is fit with our EPDM rubber bushing and when used with a compatible EcoFasten Solar compression bracket (milled with countersink), a watertight seal is created, which protects the integrity of the roof. Requiring just a single fastener (lag bolt or self-drilling), GreenFasten provides the fastest install in the industry and will not void roofing manufacturer's warranties. Backed by IAPMO certification, GreenFasten delivers a mounting solution for all new or existing (retrofit) composition shingle roofs, and is the most cost-effective solution available. Like all of the solar roof mount solutions in our line of products, GreenFasten is made in the USA using recycled materials.