Enex Technologies secures €25M to boost R&D and natural refrigerants rollout

Enex Technologies has announced a €25 million capital reinforcement to support the expansion of its operations and research in natural refrigerants. The financing, fully subscribed by existing shareholders, was issued through a non-convertible PIK bond by parent company CCC Holdings Europe S.p.A., and is reserved for professional investors.

The funds will support Enex Technologies’ strategy to scale its HVACR solutions using natural refrigerants across Europe and international markets. The investment will be directed toward increasing production capacity, accelerating R&D, and supporting international growth efforts.

“This strengthening of our capital structure signals robust support from our shareholders for Enex Technologies’ long-term strategy and vision,” said Greg Deldicque, Chairman of Enex Technologies. “Our mission is to lead Europe’s climate tech transformation through natural refrigerant-based, high-performing technologies — scaling our international impact and accelerating the energy transition.”

François Audo, CEO of Enex Technologies, added: “This new financing enables us to accelerate the rollout of next-generation HVACR solutions, expand our European footprint, and invest even more in research and development.”

The move comes amid growing demand for climate-neutral solutions in the HVACR sector. According to the company, the global HVACR market is estimated at $300 billion, with refrigeration accounting for $60 billion. In Europe, the HVACR market was valued at €46 billion in 2023, including €9.3 billion from refrigeration, where natural refrigerants are gaining ground.

This industry transition is supported by EU climate policy, including the F-Gas Regulation (EU 517/2014), which targets a 79% reduction in HFC consumption by 2030.