PR Newswire
Summary
Kanin Energy (Kanin) today announced it has raised up to $100 million in new equity financing, with S2G Investments leading the round with a commitment of up to $50 million, alongside a commitment of up to $50 million from Canada Growth Fund (CGF). The capital will directly support Kanin's development, construction, and operation of waste heat to power (WHP) and other on-site power projects across heavy industry in Canada and the United States, expanding on a commercial pipeline that already includes an operating facility and several in construction facilities.
"Rising power prices, grid congestion, and reliability constraints are pushing industrial companies to rethink how they source power. Waste heat has largely been an underused solution, but as these constraints persist, there's a clear and growing incentive to capture it and put it to productive use," said Marisa Sweeney, Principal at S2G. "We view this as a category with real staying power, and believe that Kanin's team has the experience and discipline to meet this rising demand at scale."
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#News#CHP#WasteHeat