NLine Energy secures $11 million for expanding clean energy tech.

By Oliver Townsend Jul 11, 2024
NLine Energy Raises $11 Million to Drive Expansion of Industrial Clean Energy Tech.jpegOrginal image from: https://www.esgtoday.com/nline-energy-raises-11-million-to-drive-expansion-of-industrial-clean-energy-solutions/

NLine Energy, a clean energy technology company, recently announced a successful fundraising round of $11 million. The company’s goal is to expand its business and help commercial and industrial facilities decarbonize, both in North America and internationally. Initially focused on small hydropower projects, NLine Energy has developed technology to convert wasted energy from steam distribution systems into renewable power. This innovative Microsteam Turbine (MST) technology aims to reduce electricity consumption for clients such as hospitals, universities, and various commercial and industrial processes.

Investment in Clean Energy

The $11 million fundraising round was led by Mirova, a sustainable investment affiliate of Natixis Investment Managers. The investment will support NLine Energy’s mission to generate clean power from wasted energy, contributing to a more sustainable future. This marks the 10th investment for Mirova’s impact private equity strategy, highlighting their commitment to supporting innovative energy efficiency solutions.

Expanding Operations

NLine Energy plans to use the new capital to enhance its operations in North America and expand internationally, with a particular focus on Europe. The company aims to significantly reduce carbon footprints in the commercial and industrial sectors by bringing new products to market and scaling their options internationally. The three-fold value proposition offered by NLine Energy includes energy savings, sustainability, and installation resilience.

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