Germany-based power utility RWE Innogy’s corporate venturing unit has bought 20% of Sweden-based Airec, which makes heat exchangers for gases.
Two Swedish investment funds, Industrifonden and TeknoSeed, also participated in the round of undisclosed size of Airec.
Crispin Leick, head of Innogy Venture Capital, said: "A growing fraction of the future energy supply will come from decentralised smaller units, drawing on renewable resources. Our investment in Airec aims to leverage this innovative heat exchanger technology to gain recognition in various application fields, for example for energy generation from renewable sources and in decentralised power plants."
Airec is a member of the Sweden Cleantech Incubator.