Series B investment by Schweizer Kapital Global Impact Fund AG supports the market entry of Ocean Hybrid Platform (OHP) and ModTroniX (MTX).
10.09.2021 | Gauting | Zurich
Schweizer Kapital Global Impact Fund AG reaffirms financial and strategic commitment to SINN Power GmbH in a Series B financing round
Ocean Hybrid Platform about to enter the market with approvals and long-term testing in Heraklion
ModTroniX as a key element for the implementation of hybrid renewable energy projects in the maritime environment and smart grid market
The Schweizer Kapital Global Impact Fund AG, an impact fund of the Schweizer Kapital Group, initiated and financed by Umut Ertan, continues the €4.7 million commitment already made in 2018 as the main investor in SINN Power to provide financial and strategic support for the upcoming market entry. As part of the Series B financing round, the Schweizer Kapital Global Impact Fund AG invests another €3.0 million and becomes the main shareholder and sole investor in the Gauting-based SINN Power GmbH through the further acquisition of shares.
SINN Power GmbH has been developing technologies and solutions for the generation, storage, and feed-in of renewable energies in the maritime environment since 2015. Thanks to the successful developments of recent years, SINN Power is now about to enter the market with the OHP (Ocean Hybrid Platform) and the modular power electronics components (ModTroniX). The necessary certificates and approvals are subject to demanding, and lengthy tests, carried out at the pilot project site in Heraklion (Greece), among other places.
The renewed investment of the Schweizer Kapital Global Impact Fund AG is now to push the market entry of the technologies and direct the focus of the SINN Power GmbH on developing the target markets. The expansion of the sales network, which deals with the acquisition, planning, and implementation of projects, was recently strengthened in the regions EMEA (Europe, Middle East, Asia) and the Americas (Central and South America).
The OHP, in combination with ModTroniX, enables smart and modular projects for a sustainable future, as a source of renewable energy for grid feed-in, production of hydrogen, seawater desalination, or supply of remote coastal or island regions.
Philipp Sinn (CEO, SINN Power): "The Schweizer Kapital Global Impact Fund AG and Umut Ertan have contributed significantly to the fact that SINN Power is today on the verge of entering the market. With the current Series B financing, we can focus on the commercialization of our products and solutions. In doing so, Schweizer Kapital Global Impact Fund AG, as an important player in impact investing, will, of course, also support us strategically. My thanks go to Umut Ertan, the founder of Schweizer Kapital Group, the SINN Power team and everyone who has supported us on our journey so far."
Umut Ertan (Founder Schweizer Kapital Group): "I am proud to be part of this unique team around Philipp Sinn. With a total investment of €11 million in 3.5 years, the investment in SINN Power represents the largest single investment of the Schweizer Kapital Global Impact Fund in a company. SINN Power has already made a name for itself worldwide as a leading floating solar provider in the maritime environment and a highly innovative electricity producer from ocean waves. Through the Series B investment, we aim to financially secure its market entry and build the company into a global player in the booming green tech sector."
If you are interested in learning more about our technologies and services, please contact Johannes Stuck (johannes.stuck@sinnpower.com).
Press contact SINN Power GmbH
Lena Zitzmann lena.zitzmann@sinnpower.com + 49 (0)89 9256 6192
SINN Power GmbH Germeringer Str. 9 82131 Gauting www.sinnpower.com
Press contact Schweizer Kapital Gruppe
Kathrina Weiß k.weiss@schweizer-kapital.com
SCHWEIZER KAPITAL GLOBAL IMPACT FUND AG Bahnhofstrasse 53 CH-8001 Zürich https://schweizer-kapital.ch