HISTORY

Cycleenergy was conceived in 2005 when it was evident that Central and East European countries would have difficulties meeting EU renewable energy targets.  The growth in energy demand across the region and the lack of rural sustainable energy bioenergy projects created a market opportunity for Cycleenergy. 

One year before, in 2004 was the year that Poland, the Czech Republic, Slovakia and Hungary joined the EU.  These countries lacked both the experience in biomass and biogas power production and also the financial capital required to develop and construct combined heat and power (CHP) power stations.

In 2006, the company began construction of its first wood-chip biomass CHP facility in Northern Austria.  The project would be the first in a series of biomass power stations in Austria developing a portfolio of operating assets in Austria of more than 30MWe by 2008.

In 2007, the company increased its capital structure in order to accelerate expansion.  In June, the company closed a financial contribution of EUR 6.7 million of private equity from 3TS Capital Partners, part of the 3i group.  By the end of the year the company plans to raise additional capital of over EUR 20 million for investment.
 

With more than EUR 150 million to invest over the next three years, Cycleenergy will acquire and develop a regional portfolio of operating assets from Poland to Bulgaria.