Efenco II

Transform heat intensive industries with Plasma-Powered Efficiency

Investment overview

Impact category

Green economy

Investment type

Loan

Yearly interest

5.95

Term

months

Risk level

B-

What will you be financing?

Efenco is a cleantech startup on a mission to revolutionize energy-intensive industries by slashing fuel consumption and CO₂ emissions. The promoter’s patented innovation, the High Energy Ray Ceramic (HERC) chip, boosts the energy conversion efficiency of industrial furnaces and boilers by over 18% — all without requiring major infrastructure changes.

HERC technology holds the power to transform sectors like electricity generation, steel, cement, pulp and paper, ceramics, and district heating, paving the way toward a low-carbon future.

The funds raised through this campaign will allow Efenco to keep advancing HERC’s development, focusing on increasing durability, preparing for industrial-scale pilots, and moving the technology toward market readiness.

This loan serves as a strategic bridge, covering the short-term funding gap before the disbursement of the final tranche of the European Innovation Council (EIC) grant.

The promoter’s mission is to contribute towards a clean energy transition by unlocking meaningful, measurable impact across some of the world’s most carbon-heavy industries.

What is the impact?

Retrofit industries to make them more sustainable: Efenco’s HERC - High Energy Ray Ceramics technology enables high-consumption industries to increase resource-use efficiency and adopt cleaner technologies for their industrial processes. Installing a HERC component was proven to reduce fuel consumption by 18%, reducing drastically the CO2 emissions of industrial processes. At the same time, the implementation of HERC enables a production cost drop of up to 7%.
The reduction in fuel consumption and decrease in the sector’s emissions are extremely important, since CO2 emissions from energy combustion and industrial process accounted for close to 89% of energy sector greenhouse gas emissions in 2021.
Promotion of innovation and entrepreneurship for business green transition: The HERC technology patented by Efenco is a product of intensive research and development since 2016, being co-funded by the European Innovation Counsil (EIC) of the European Union. The product has the potential to upgrade the technological capabilities of high-temperature process heat (HTPH) industrial sectors at large scale – which have a big CO2 footprint. This funding, with the co-funding of the EIC grant will allow Efenco to further develop the HERC efficiency and robustness, carry out industrial pilots, develop HERC mass production technology, reach mass production, and scale up sales.
Improve efficiency in energy use and reduce energy consumption: the HERC technology developed by Efenco increases the efficiency of combustion processes, which allows to reduce consumption of fuel in intensive-use industries and consequently enables industry decarbonization. The company’s tests have demonstrated a 18% less fuel consumption and between 18% and 20% less CO2 emissions in the industrial processes.

Impact indicators
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CO2 avoided per year

clean energy

created by our projects

of sustainable

impacted

Contribution to the Sustainable Development Goals
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About the Promoter

About

EFENCO OÜ

Retrofit industries to make them more sustainable: Efenco’s HERC - High Energy Ray Ceramics technology enables high-consumption industries to increase resource-use efficiency and adopt cleaner technologies for their industrial processes. Installing a HERC component was proven to reduce fuel consumption by 18%, reducing drastically the CO2 emissions of industrial processes. At the same time, the implementation of HERC enables a production cost drop of up to 7%.
The reduction in fuel consumption and decrease in the sector’s emissions are extremely important, since CO2 emissions from energy combustion and industrial process accounted for close to 89% of energy sector greenhouse gas emissions in 2021.
Promotion of innovation and entrepreneurship for business green transition: The HERC technology patented by Efenco is a product of intensive research and development since 2016, being co-funded by the European Innovation Counsil (EIC) of the European Union. The product has the potential to upgrade the technological capabilities of high-temperature process heat (HTPH) industrial sectors at large scale – which have a big CO2 footprint. This funding, with the co-funding of the EIC grant will allow Efenco to further develop the HERC efficiency and robustness, carry out industrial pilots, develop HERC mass production technology, reach mass production, and scale up sales.
Improve efficiency in energy use and reduce energy consumption: the HERC technology developed by Efenco increases the efficiency of combustion processes, which allows to reduce consumption of fuel in intensive-use industries and consequently enables industry decarbonization. The company’s tests have demonstrated a 18% less fuel consumption and between 18% and 20% less CO2 emissions in the industrial processes.

Promoter website

https://www.efenco.eu

Team
‍

[{"id":189,"promoter_id":322,"name":"Kristjan Tiik","description":"Kristjan Tiik is a seasoned entrepreneur with over 25 years of experience in innovation, business management, and consulting.","link":"https://www.linkedin.com/in/kristjantiik/","role":"CEO, co-founder","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/65f/45b/d71/65f45bd719bea883293391.jpeg","avatar_id":132249},{"id":191,"promoter_id":322,"name":"Kristo Tuurmann","description":"Kristo Tuurmann has a proven track record in the F&B and construction industry and brings a unique skill set and extensive experience in business development, investor relations, and finances to the table.","link":"https://www.linkedin.com/in/kristo-tuurmann/","role":"CFO","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/65f/45c/369/65f45c369cac5481153254.jpeg","avatar_id":132251},{"id":332,"promoter_id":322,"name":"Eva Talve","description":"Eva Talve is Efenco’s IP & New Market Lead, bringing deep expertise in innovation funding, intellectual property, and business development for deep tech startups. She has helped secure over €120 million in funding for cleantech, AI, and hydrogen economy projects.","link":"https://www.linkedin.com/in/eva-talve/","role":"IP & New Market Lead","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/681/b12/947/681b1294798f0153370962.jpg","avatar_id":189390},{"id":333,"promoter_id":322,"name":"Dmitri Jelõkov","description":"Dmitri Jelõkov is Efenco’s Technology Project Manager, with 15+ years’ experience leading complex tech projects in multinational settings. He advances core technology to higher TRLs and ensures project success.","link":"https://www.linkedin.com/in/dmitri-jel%C3%B5kov-a7ba5619a/","role":"Technology Project Manager","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/681/b15/eaa/681b15eaa1784716859851.jpg","avatar_id":189391},{"id":334,"promoter_id":322,"name":"Anton Ruzanov","description":"Anton Ruzanov is Efenco’s Technology Owner, overseeing the technical development of the HERC technology from design to delivery. With a PhD in electrochemistry and 10+ years of experience in quality and process management, he ensures Efenco’s innovation meets the highest standards.","link":"https://www.linkedin.com/in/anton-ruzanov-796124151/","role":"Technology Owner","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/681/b16/9b9/681b169b93fbf208793975.jpg","avatar_id":189392}]

Business Model
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