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EnergyCabin receives backing from British investor

Daisy © ADVANTAGE AUSTRIA

© ADVANTAGE AUSTRIA

18. June 2007

LCA to acquire 40% stake in Austrian renewable energy provider  

Low Carbon Accelerator Limited (LCA), a British investment company specialising in environmental technology, has announced it has invested €2m in the Austrian company EnergyCabin GmbH for a 23% equity stake. LCA has committed to invest a further €2m in two tranches over the next 12 months, taking LCA’s total equity stake to 40%.

EnergyCabin is an award-winning Austrian based manufacturer and supplier of free-standing, automatic heating systems that combine solar energy with wood pellet boiler technology to deliver low-carbon central heating for any building. The business has seen significant growth since it was founded in 2005 and there is strong demand for its products both in the local market and more widely in Europe. Sales grew from €500k in 2005 to €2.8million in 2006. Sales teams have been established in four major European countries. The investment from LCA will help EnergyCabin develop partner relationship and subsidiary sales operations within Europe and internationally.

Barney Rhys Jones, Investment Officer at Low Carbon Initiative, LCA's investment manager said: "There is a large and growing demand for low-cost, low-carbon, independent energy supplies in domestic, commercial and public buildings. EnergyCabin provides the best-in-class technologies for this and has first-mover advantage in this market. This is a business model which can scale up quickly, providing buyers with a standardised, plug and play answer to their hot water and heating needs. We are particularly interested in the impact this product will have in the house building sector."

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