Innovative measurement for geothermal probes and industrial applications
HTGF, LBBW Venture and KIC InnoEnergy invest in enOware GmbH
Operators of near-surface geothermal probes can get up-to-the-minute relevant system data with GEOsniff and an app. GEOsniff is a wireless, miniaturized measuring capsule, the first product developed by Karlsruhe startup enOware.
The measuring capsule delivers data in real time, creates transparency, and helps with optimum monitoring of existing and new geothermal systems. As part of seed financing, the High-Tech Gründerfonds, LBBW Venture Capital GmbH, and KIC InnoEnergy SE are investing in enOware.
The GEOsniff solution will profoundly improve the efficiency, reliability and quality of geothermal systems. The principle behind the innovation is easy to explain. The GEOsniff unit, in the shape of a 20mm sphere, navigates the pipe system of a geothermal probe and records measurements like pressure and temperature along the way. The sensor can be logged on and off the geothermal probe via an automated docking station, the GEOsniff BYPASS for wireless energy and data transmission. The data is then accessible through the online portal YouFootprint and the associated smart phone app for system monitoring, optimization, and efficiency improvement, as well as operational safety.
In Germany alone, more than 300,000 geothermal probes are currently operating, and 20,000 new systems are built each year. The measurement technology has already won over its first customers. New systems in particular are going to be equipped with GEOsniff, but even existing systems can see definite improvement. “We are delighted about the investment by HTGF and LBBW Venture and KIC InnoEnergy, as it will allow us to drive our technology development forward and position the innovation in the market more quickly,” says Simeon Meier, founding partner and CTO of enOware GmbH.
Karl G. Linder, founding partner and CEO of enOware GmbH, is convinced that the idea will succeed because authorities, planners, builders and operators alike need more efficiency and safety for their systems!
“A GEOsniff unit with an app, universally applicable, wireless, self-sufficient in terms of energy supply, and wear-free, is ideally prepared for a long life monitoring the fluid environment of a geothermal probe and pipe system.”
Dr. Löffler, Investment Manager of the HTGF, says: “I am certain that the highly innovative floating measuring sphere by enOware also has a place in industrial fluid measurement technology.”
Dr. Jens Ortgiese, Business Creation Officer at KIC InnoEnergy Germany, emphasizes the potential of the team behind enOware: “EnOware is based not only on a high-performing concept, but also combines the necessary talent for successfully positioning their products on the market.”
About enOware GmbH
EnOware GmbH was founded in July 2014 as a spin-off from Systec & Services GmbH. The product idea for GEOsniff and YouFootprint gained the current enOware team a nomination for the NEO 2013 innovation award, which led to the excubation of the development idea. As a product company, the organization offers mobile sensor systems and software for fluid environments, focusing on geothermal energy and environmental monitoring, and also provides high-level R&D services in this technological field. The team is located in Karlsruhe’s Technologiepark.
About LBBW Venture Capital GmbH
LBBW Venture Capital GmbH, a subsidiary of LBBW, is the “Center of Competence” for the bank’s Venture Capital and Technology Investments division. It has been offering venture capital financing for technology companies in the industrial technology, IT, and life science sectors since 1998. To date, over 50 companies have been supported. For the early founding and seed phase, LBBW Venture is the regional investment partner of the HTGF in Baden-Württemberg. Investors in the Seedfonds BW include the state of Baden-Württemberg (Ministry of Finance and Economy), L-Bank, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg GmbH, and LBBW Venture Capital GmbH. LBBW Venture further invests in young or quickly growing enterprises of up to €3 million, and sees its function as one of long-term partner and of liaison between the startup scene and established mid-sized companies.
LBBW Venture Capital GmbH
Königstraße 10c, 70173 Stuttgart
P: + 49 711 3058920 – 20
F: + 49 711 3058920 – 99
About KIC InnoEnergy SE
KIC InnoEnergy is the European company for innovation, business startup, and education in the sustainable energy sector. The organization’s activities are geared toward making technologies for a sustainable energy supply in Europe marketable and helping companies to be successful. Since its founding in 2010 by a consortium of leading European industrial enterprises, research institutions and universities, KIC InnoEnergy has already successfully initiated a number of projects: around 80 ventures are currently being supported, and 60 innovation projects involving over 160 companies are under way. In 2014, KIC InnoEnergy had a business volume of €300 million. The enterprise is profit oriented, but its financial strategy does not involve distribution of dividends. All revenues are invested into new entrepreneurial activities. KIC InnoEnergy is supported by the European Institute of Innovation and Technology (EIT). The company has a network of locations in Benelux, France, Germany, Iberia, Poland and Sweden. The German subsidiary is headquartered in Karlsruhe, with further locations in Stuttgart and Berlin. www.kic-innoenergy.com
About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Energy, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, Bayer, B. Braun, Robert Bosch, CEWE, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 576 million under management in two funds (EUR 272 million HTGF I, EUR 304 million HTGF II).
Dr. Torsten Löffler
High-Tech Gründerfonds Management GmbH
Phone :+ 49 228 82300 – 161