Dutch heat-to-power firm Triogen and the HeatConvert Coöperatief have announced an extension of their financing partnership with the aim of boosting the adoption of Triogen’s Organic Rankine Cycle (ORC) technology in western Europe.
HeatConvert has been operating two Triogen ORCs for the past five years and recently raised additional equity from a group of international investors to implement its build-own-operate model in residual heat-to-power projects involving biogas, biomass and biodiesel. The funds will be used to deploy additional ORCs, including financing two ORCs for a Belgian biogas plant which is currently under construction.
Alexander van Os, HeatConvert’s director, said: ‘We see substantial potential to fund ORC projects in various European countries. Based on the solid track record of the installed fleet, we believe HeatConvert can offer customers attractive financing options that allow them to realize the benefits of an ORC without the need to deploy significant amounts of capital. This is a sustainable business model that can be built upon as more opportunities arise.’