SINN Power and Schweizer Kapital Global Impact Fund AG complete financing round of EUR 4.7 million
Munich / Gauting (renewablepress) - The German startup SINN Power, global technology leader in wave energy, and the Swiss Schweizer Kapital Global Impact Fund AG, represented by Umut Ertan, have committed themselves to a common future. With a capital contribution of EUR 4.7 million, Schweizer Kapital Global Impact Fund enables SINN Power to develop its revolutionary wave energy technology to market maturity in 2022. To do so, SINN Power will implement wave energy converter projects to illustrate the potential for cost-savings and CO2 reductions to customers on coasts around the world.
Ertan complements SINN Power’s existing high-profile shareholder structure around Dr. Lothar Stein, who has been supporting SINN Power with his know-how and experience as Business Angel from the very beginning, as well as Dorothea Sick-Thies, who pursues the goal of a great, peaceful, ethical revolution and transformation with her ecological awakening movement “Protect the Planet”. In addition, the Sick family contributes its expertise and experience as worldwide market leader in sensor technology, as does Business Angel Michael Kuri and the Roell family office roellpartners as part of Zwick Roell Group.
Umut Ertan, a visionary of the logistics industry, has previously proven his entrepreneurial skills and instincts for lucrative business models. With the founding of the Schweizer Kapital Global Impact Fund, he dedicates himself to investments with a sustainable approach. The investment in the wave energy Startup SINN Power constitutes the foundation for Ertan’s future commitment to sustainability.
Quote, Umut Ertan:
“SINN Power has a clear goal, a passion for innovation, and a highly motivated and talented team. Based on this combination, we are convinced that our investment will enable the wave energy converter to reach market maturity.”
Quote, Philipp Sinn:
“With Umut Ertan, today we won a new partner who is sharing a clear vision with us: moving forward courageous and visionary, to demonstrate the compatibility of ecology and economy in practice. As a valuable complement to our existing network of investors, the German government and our team, Umut takes us a big step closer towards this goal.”
About Schweizer Kapital Global Impact Fund AG:
Schweizer Kapital Global Impact Fund was initiated in 2018 by entrepreneur Umut Ertan with the aim to support startups with sustainability-related and scalable business models through impact investing. Schweizer Kapital Global Impact Fund supports companies from its Zurich office using various needs-based financing instruments from venture capital to private equity. In addition to environmental technology, illustrated by the flagship investment SINN Power, the Fund focuses on the sectors logistics/real estate, mobility/automotive, health/food and fintech. Its long-term goal is to become one of the leading European impact investors with an international perspective.
About SINN Power:
The German company with headquarters in Gauting near Munich was founded in 2014 with the aim of harnessing the completely untapped, but tremendous potential of renewable energies from ocean waves. With the support of the German government and private investors, the startup successfully tested a prototype of its patented wave energy converter in the Mediterranean Sea in 2015. With demonstration projects starting in 2018, the technology leader will showcase an alternative to diesel generators on remote coasts and plans to establish wave power as an integral part of a worldwide renewable energy system.
Download press photo:
cacption: (left to right) Tristan Jochner (Co-Founder and CFO of SINN Power), Kirsten Morinière (Head of Investments and Ventures, roellpartners), Dr. Philipp Sinn (Founder and CEO of SINN Power), Umut Ertan (Serial entrepreneur and owner of Schweizer Kapital Global Impact Fund), Dr. Christian Brehm (for Schweizer Kapital Global Impact Fund), Dr. Elisabeth Schalk (for Dorothea Sick-Thies and SICK Holding) Not shown: Business Angels Dr. Lothar Stein and Michael Kuri (for SINN Power)
© SINN Power GmbH
Munich / Gauting, 18 April 2018
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