Cleantech firm Cylon receives €7m investment from ESB fund
Investment to be used to finance acquisition of smart building solutions firm American Auto-Matrix
The investment is being made through ESB’s cleantech fund
The investment is being made through the ESB Novusmodus Fund, which provides growth capital and management support to companies working in cleatech.
Cylon, which manufacturers building energy management systems, is one of the largest independent building control providers in Europe. It also has offices in Asia, the Middle East and the US. The investment will be partly used to finance of the acquisition of the smart buildings solutions firm American Auto-Matrix.
“ESB’s investment in Cylon Controls is a win-win formula which sees the company benefit from our technical expertise, investment support and utility endorsement and positions ESB at the forefront of progressive energy utilities striving for a sustainable energy future,” said ESB chief executive Pat O’Doherty.