Fuel cell company Siqens receives funding from Finnish investor VNT Management Oy and KfW Bank

By: Siqens
Siqens is developing its methanol fuel cell for serial production.
Siqens is developing its methanol fuel cell for serial production.
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* Fuel Cell
* Innovation
* Energy Converter
* Start-up
* Financing

* Energy
* Technology

* Munich - Bavaria - Germany

* Companies

MUNICH - Nov. 22, 2013 - PRLog -- Together with the KfW ERP-Startfond, VNT Management is investing in the technology start-up company Siqens GmbH. Emerging from the Munich University of Applied Science the first round financing will provide Siqens with market entry funding for their new generation of fuel cells. With its eco-friendly and silent energy converter, Siqens presents a fuel cell with usability and efficiency levels to revival conventional combustions motors within the 1 to 5 kilowatt range.

Dr. Lars Behrend, CEO of Siqens GmbH and responsible for business development, is highly satisfied with the first round of negotiations: “VNT Management and ERP-Startfond are strong partners with whom we can jointly pursue a sustainable product development and long-term market strategy.” Volker Harbusch, R&D managing director, adds: “We are proud to have VNT as an investor with their extensive experience in the energy sector.”

“The Siqens concept focusses on reducing production costs - an issue that has prevented the fuel cell technology breakthrough so far”, states Peter Auner, VNT Management Investment Director, with regards to the new portfolio company. VNT sees “great market potential for Siqens fuel cells in a variety of highly interesting sectors. These include comfort applications for recreation and mobility, hybridisation of battery power or the energy supply and energy security in industry or infrastructure.”

About Siqens GmbH
Founded in 2012, Siqens GmbH emerged from a project funded by the German Federal Ministry of Economics and Technology (EXIST Forschungstransfer) and supported by the Munich University for Applied Science and the Strascheg Center for Entrepreneurship (SCE). During its first year, the company’s innovative concept was honoured with second place of the prestigious f-cell Award. Currently, Siqens is developing its high temperature methanol fuel cell (HT-MFC) for serial production. The advantage lies in the methanol’s highly efficient electricity supply and the simple systems periphery. This means that the HT-MFC system has significantly lower production and operation costs. Siqens focusses on maximising this advantage and, in the long-term, will expand into areas beyond the current fuel cell markets.

Siqens GmbH
Postfach 201821
80018 Munich, Germany
Dr. Lars Behrend
+49 89 28924297
E-Mail: info@siqens.de
Internet: www.siqens.de

About VNT Management Oy
VNT is one of the first venture capital management companies in Europe that focuses on clean technologies, in particular renewables, electrical systems and energy savings. We are active in the Nordics and German-speaking countries. At present, VNT has three funds with a total investment capital of €157 million under management. VNT mainly invests in technology-orientated start-ups and growth companies in Europe. VNT executives possess core experience in the power conversion and control industry, providing essential added value to the target companies of VNT funds. Wide business experience, active management, and values based on fair play make up the cornerstones of VNT.

VNT Management Oy
Arnulfstrasse 25
80335 Munich, Germany
Peter Auner, Investment Director
+49 89 51463696
E-Mail: peter.auner@vntm.com
Internet: www.vntm.com

About KfW's ERP Start-up-Fund
KfW finances and supports, among other things, business start-ups, small and medium-sized enterprises (SME) as well as investments in growth and employment in Germany. The ERP Start-up Fund, administered and co-financed by KfW, offers equity financing for innovative, technology-based enterprises with very good growth prospects. The Fund finances research and product development as well as the launching of new products, processes or services. KfW always cooperates with a lead investor and offers financing at market conditions. Created in 2004, the ERP Start-up Fund disposes of around EUR 720 million in total for investing in emerging technology-based enterprises.

KfW Bankengruppe
Niederlassung Bonn
Ludwig-Erhard-Platz 1-3
53179 Bonn, Germany
Telefon: +49 228 831 0
E-Mail: info@kfw.de
Internet: www.kfw.de

About Strascheg Center for Entrepreneurship (SCE)
The Strascheg Center for Entrepreneurship (SCE) offers educational training and research programs in the field of entrepreneurship, and encourages innovation processes and the development of entrepreneurial personalities. SCE supports business start-ups from science and guides young businesses from idea development to marketable innovation. In this way SCE actively contributes to shaping the future of our society and to establishing a comprehensive start-up culture. SCE was founded in 2002 as an affiliated institute of the Munich University of Applied Sciences (MUAS). In July 2011 SCE and MUAS became one of the first three EXIST Start-Up Universities in Germany. CEO of SCE is Prof. Dr. Klaus Sailer. For further information visit www.sce.de

Dirk Hoppe
+49 89 550506-0
Email:***@sce.de Email Verified
Tags:Fuel Cell, Innovation, Energy Converter, Start-up, Financing
Industry:Energy, Technology
Location:Munich - Bavaria - Germany
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