The Hague – Topell Energy, a global torrefaction technology leader, owned by RWE venture capital, Vattenfall owned Yellow capital and PPM Oost a Dutch regional organisation, announced April 9 that it is exploring strategic options to accelerate growth, as Topell Energy is moving into the next phase of its development rolling out its technology on a global basis. Topell Energy and its shareholders have retained investment bank Lincoln International to assist with this process, in order to find a partner which can help Topell Energy to accelerate growth.
Recently, Topell Energy achieved and announced two key milestones in its development.
In October 2013, the company reached “industrial proof of concept” producing torrefied pellets at an industrial and commercial scale with its Topell Energy torrefaction system.
In February this year, Topell Energy announced the successful large scale co-firing test in collaboration with Energy research Centre of the Netherlands (ECN) and utility companies Essent, Nuon and GDF Suez. During this test 2,300 tons of torrefied pellets were co-fired at a 5% – 25% co-firing rate in the Amer power plant of Essent in Geertruidenberg, producing green electricity. The co-firing test confirms the benefits of torrefied pellets and the ability of Topell Energy’s technology to produce high quality biocoal.
Rob Voncken, CEO of Topell Energy, states “With the industrial proof of our technology and the successful large scale co-firing test, a new phase for Topell Energy has started. We began our worldwide commercial roll-out, selling torrefaction systems with a licence for the use of our proprietary torrefaction technology, to bio-fuel producers and other interested customers. As a first mover in a market with significant global potential, a natural moment has arrived for Topell Energy to explore our strategic options”.
Topell Energy and its shareholders have retained investment bank Lincoln International to assist with this process, in order to find a partner which can help Topell Energy to accelerate growth.