We advised Efenco, an Estonian startup that promises to revolutionise the green revolution in the energy sector, on raising capital.
Focus on growth
Efenco, which is developing a carbon-neutral combustion solution that would help use fossil fuels much more efficiently, raised a million euros and is looking to raise a further EUR 10 million in the next months.
A revolutionary solution
According to Kristjan Tiik, one of the founders of the company, until now it has been thought that fossil fuels contain a certain amount of energy – but this applies to so-called conventional combustion. Efenco’s patented plasma combustion solution makes it possible to get at least 20% more energy from the fuel while reducing emissions by almost half. “It is extremely important to note that the introduction of our technology does not require a change in infrastructure, but can simply be added to existing combustion chambers,” said Tiik.
The impact is global, if the Efenco system were applied to all usage of gas, it would save more energy than produced in total by solar and wind energy. Similarly, the world’s nuclear plants produce less energy in total than would potentially be saved in gas burners with Efenco’s technology.
Our services and customer team
We advised Efenco throughout the entire capital raising process, including the negotiation and signing of related documents.
Our client team was led by counsel Lauri Liivat, supported by associate Kristi Tammiku and assistant lawyer Eva Lennuk.