TAPROGGE ESACO raises its stake in TER-RAWATER - exit for High-Tech Gründerfonds
TERRAWATER was founded by Nicolas Heyn, Till Schlickum and Thomas Brendel in 2007. With financial support from High-Tech Gründerfonds the company was able to successfully further develop its technology for modular seawater desalinisation plants using waste heat.
Since TAPROGGE ESACO's initial investment in Terrawater in Autumn 2009, an intensive operational cooperation has developed between the two companies. Thus, with assistance from TAPROGGE ESACO the first plants were able to be successfully sold to international customers and valuable experience was gained from continuous operation.
Klaus Lehmann, Senior Investment Manager at High-Tech Gründerfonds supported Terrawater to the successful exit: "We are happy that in TAPROGGE ESACO we have found the ideal buyer of our stake in Terrawater. To date the working relationship of both companies has been very positive and we are selling our stake with the good feeling that the partnership will be further intensified by this. For High-Tech Gründerfonds this yields a good double digit return on investment."
Nicolas Heyn, founder and managing partner, added: "In HTGF we had the right partner to create the foundation for our technological and entrepreneurial ideas and to provide proof of feasibility. In TAPROGGE ESACO we have now found the strategic partner with whom, building on this good foundation, the technologies can be sold worldwide and developed further.
Terrawater is a perfect match for TAPROGGE ESACO. "Terrawater is an outstanding fit with TAPROGGE's topics", said Detlef Taprogge, Managing Director of TAPROGGE ESACO. "For one, Terrawater can rely on TAPROGGE's excellent access to international desalinisation markets, in which TAPROGGE has for over 40 years been the indispensible and market-leading technology partner for operators of thermal desalinisation plants. This is where we enjoy an excellent technical reputation and are closely tied in". "For another", continued Detlef Taprogge, "with Terrawater we are tackling the big issues of the future: desalinisation without chemicals and a virtually CO2 free energy footprint - this is absolutely ground-breaking for the industry. Today we can assume that Terrawater will not be exclusively involved in the application of decentralised and solar desalinisation. In particular we are thinking about the future market of "zero liquid discharge". There's plenty for Terrawater to do in this regard."
About Terrawater GmbH
Terrawater GmbH develops and manufactures water technologies for the production of process and drinking water from brackish, sea and waste water. The focus is on systems operated using either solar energy or waste heat from technical processes. An additional strength of the company is the treatment of highly saline water, the concentration of waste water and zero liquid discharge for industry.
About TAPROGGE ESACO GmbH
TAPROGGE ESACO GmbH is a holding company belonging to TAPROGGE GmbH. TAPROGGE GmbH is a medium-sized German technology specialist in the "clean tech" sector. Since its foundation in 1953 the company has specialised in the creation of energy efficiency and the reduction of CO2 in thermal power plants and in seawater desalinisation. To this end the company markets proprietary systems and process technology in a system network. With over 15,000 industrial applications of TAPROGGE systems in over 100 countries around the world, TAPROGGE is the international market leader in this special field.
High-Tech Gründerfonds Management GmbH
High-Tech Gründerfonds invests risk capital in young, promising technology companies that implement auspicious research results in an entrepreneurial way. The start-up companies use the seed funding to help them conduct their research and development plans until a prototype/proof of concept is provided or the product is launched on the market. The fund generally invests €500,000 million, and up to €2 million is available per company. Investors in the public-private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group and the 12 industrial groups ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss. High-Tech Gründerfonds has a total fund volume of approximately €560.5 million (€272 million for Fund I and €288.5 million for Fund II).