The German startup SINN Power, global technology leader in wave energy, and the Swiss Schweizer Kapital Global Impact Fund AG, represented by Umut Ertan, have committed themselves to a common future. With a capital contribution of EUR 4.7 million, Schweizer Kapital Global Impact Fund enables SINN Power to develop its revolutionary wave energy technology to market maturity in 2022. To do so, SINN Power will implement wave energy converter projects to illustrate the potential for cost-savings and CO2 reductions to customers on coasts around the world.
Umut Ertan, a visionary of the logistics industry, has previously proven his entrepreneurial skills and instincts for lucrative business models. With the founding of the Schweizer Kapital Global Impact Fund, he dedicates himself to investments with a sustainable approach. The investment in the wave energy Startup SINN Power constitutes the foundation for Ertan’s future commitment to sustainability.
“SINN Power has a clear goal, a passion for innovation, and a highly motivated and talented team. Based on this combination, we are convinced that our investment will enable the wave energy converter to reach market maturity.”
“With Umut Ertan, today we won a new partner who is sharing a clear vision with us: moving forward courageous and visionary, to demonstrate the compatibility of ecology and economy in practice. As a valuable complement to our existing network of investors, the German government and our team, Umut takes us a big step closer towards this goal.”
Schweizer Kapital Global Impact Fund was initiated in 2018 by entrepreneur Umut Ertan with the aim to support startups with sustainability-related and scalable business models through impact investing. Schweizer Kapital Global Impact Fund supports companies from its Zurich office using various needs-based financing instruments from venture capital to private equity. In addition to environmental technology, illustrated by the flagship investment SINN Power, the Fund focuses on the sectors logistics/real estate, mobility/automotive, health/food and fintech. Its long-term goal is to become one of the leading European impact investors with an international perspective.
The German company with headquarters in Gauting near Munich was founded in 2014 with the aim of harnessing the completely untapped, but tremendous potential of renewable energies from ocean waves. With the support of the German government and private investors, the startup successfully tested a prototype of its patented wave energy converter in the Mediterranean Sea in 2015. With demonstration projects starting in 2018, the technology leader will showcase an alternative to diesel generators on remote coasts and plans to establish wave power as an integral part of a worldwide renewable energy system.