Monday, March 25, 2013

Stirling DK

Speaking:  Lotte Glarkrog, CEO of Stirling, Denmark.

Essen, 06 July 2009, RWE Innogy GmbH  - Stirling DK has developed a distributed CHP system to generate energy from solid biomass of low value. For instance, fresh wood chips from forests can be used as renewable fuel. The plant engineering is based on a Stirling engine with an electrical output of 35 kW, supplied with heat from an external combustion chamber.

A heat exchanger specifically designed for the combustion of solid biomass is used for this purpose. Costly fuel processing or fossil fuels of high quality, such as natural gas, are not required. First systems have already been successfully installed in Germany. Present customers include e.g. a municipal utility and a hospital. Together with RWE Innogy, existing investors like Vaekstfonden, a leading Danish technology investor, are investing in the promising technology. 

The latest internal capital raising round has secured an additional 4 million Euros (30 million DKK) from Stirling.DK’s existing investors. The main shareholders are Vækstfonden, Denmark, EnergiMidt, Denmark and RWE Innogy Ventures, Germany.

“This newest capital injection reflects the commitment of the existing investors to Stirling.DK and will enable the company to continue to grow in a balanced manner. The company is currently focusing on its core markets in Germany and the UK, where the demand for decentralized biomass solutions for heat and power is steadily increasing. This latest financing round will be used to expand capacity to ensure expected and future orders are met in a timely manner”, says Lotte Glarkrog, CEO of Stirling.DK
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