Airec, a Malmö, Sweden-based developer and provider of compact plate heat exchangers, has received a SEK30m financing.
Investors include Industrifonden, RWE Innogy, CEO and founder Sven Persson and the previous owner, Teknoseed II.
The company intends to use the funds for international expansion (including the U.S.) of its gas/liquid heat exchanger technology.
Airec’s heat exchangers are already used as a critical component to reduce CO2 emissions and to conserve energy in boilers, cogeneration power systems, aircraft turbines, various refrigeration and freezer systems, biogas and other processing systems.
The company is also participating in a number of collaborative projects with large and global companies to integrate its technology in their systems.
Founded in 2000, Airec has revenues of around SEK20m, mainly from sales in Europe and Asia.