Austrian Cycleenergy secured €10m in Second Funding Round

Vienna-based biomass power plant developer and operator Cycleenergy Beteiligungs – und Management AG secured €10m in its second funding round.
This round was led by Lisbon-based New Energy Fund (NEF), an investment vehicle managed by Banif Investment Managers, with participation from existing investors 3i, a London-based fund advised by 3TS Capital Partners and Cycleenergy GmbH.
The funds will allow the company to accelerate its expansion as part of a market consolidation strategy for the Austrian biomass cogeneration sector.
Commenting on the funding round, Florian Dietz, CEO and co-founder of Cycleenergy, said that further investments will enable the company to become one of the main players in the sector.

Join the discussion