Estonian clean energy production startup Efenco raises €4.5M for its 'fire on turbocharge' technology
Efenco, a Tallinn-based deeptech become cleantech startup, has raised €4.5 million to further develop its “fire on turbocharge” technology. The capital provided is a combination of €1.3 million led by Ivo Remmelg for EstBAN Syndicate and €3.2 million in grant funding from the European Innovation Council and Estonia’s Archimedes Foundation.
Where Efenco steps into the picture is not through offering a new renewable, but by dramatically increasing the efficiency of existing technology. Using cold-plasma assisted combustion technology, Efenco says that its solution can (eventually) improve the combustion efficiency of natural gas by up to 40 percent and of hydrogen by up to 75 percent.