Mantex AB, which several times has recieved prices as one of the most promising clean tech company in Sweden has signed an partnership agreement with RWE Innogy, the no1 power producer in Germany.
RWE becomes a minority shareholder and secures Mantex capital needs for the coming years of expansion. In a first phase Mantex recieves 12 MSEK that will be invested in product development, production and marketing.
"We look forward to cooperating with Mantex because we are convinced that the technology developed by this company can make the use of biomass to generate power and heat significantly more efficient," said Crispin Leick, head of RWE Innogy's Venture Capital activitites.
Erik Odén, CEO of Mantex, comments the RWE Innogy investment "We are very pleased to have landed the partnership agreement with RWE Innogy. On top of the capital investment, that enables us to accelerate our growth we will through RWE get acces to a large international network of experts within our key competence areas. Of couse we see the investment as a credit to the potential of our technology and the applications derived from it.
RWE Innogy will assist Mantex in furher development of Mantex content detection technology with a primary focus on applications for the utility, forestry and pulp and paper industries in Europe and within short also in North America.
