Enerin Secures Ring Capital Investment in Series A for Industrial Decarbonization

Ring Capital has joined Enerin's Series A funding round, contributing to an international consortium supporting the high-temperature industrial heat pump leader. Based in Oslo, Enerin's HoegTemp technology decarbonizes industrial heat by replacing fossil-fuel boilers, preventing around 36,000 tonnes of CO2 equivalent per installation. The investment, Ring Capital's first in the Nordics, will scale manufacturing and accelerate product development as Enerin moves from pilot success to serial production, aiming to significantly reduce global industrial CO2 emissions.

Enerin, an Oslo-based innovator in high-temperature industrial heat pump technology, has successfully completed the third tranche of its Series A funding round, welcoming Paris-based European Management Company Ring Capital as a new investor. This strategic investment places Ring Capital within an international consortium of supporters, including Climentum Capital, The Footprint Firm, Johnson Controls, Move Energy, PSV Hafnium, and Momentum. The primary objective of this significant capital infusion is to scale Enerin's manufacturing operations and accelerate its product development efforts.Enerin's cutting-edge HoegTemp high-temperature heat pumps are designed to address a critical global challenge: decarbonizing industrial heat, a sector responsible for over 20% of worldwide CO2 emissions. By replacing traditional fossil-fuel industrial boilers, Enerin's modular, flexible, and standardized systems can deliver heat up to 250°C, offering a scalable path to reduce emissions. A key advantage of their technology is its ability to adapt automatically to factory conditions and integrate easily with existing industrial energy systems, providing a near-constant thermal energy output regardless of waste heat profiles.Laurent Babut, General Partner at Ring Capital, highlighted the environmental impact, stating that each Enerin installation avoids approximately 36,000 tonnes of CO2 equivalent over its asset lifetime. Enerin is now transitioning from successful pilot projects, such as the HoegTemp pilot at the IVAR Municipal Waste Water Treatment Plant and a recent contract with Roche, to serial production. This investment not only fortifies Enerin's commercial viability but also marks Ring Capital's inaugural investment in the Nordic market, underscoring its commitment to supporting disruptive clean technologies across Europe.