OTI Greentech Group, based in Zug, Switzerland and led by Stephan Rind, develops patented technologies for cleaning, recovery and disposal of oil across tanks, ships, industrial machinery and waste streams. The company also offers oil‑field solutions aimed at enhancing recovery from conventional and unconventional deposits. OTI markets environmentally friendly solutions spanning a wide variety of applications and service settings. The firm said it will use the new funds to continue expanding operations, mainly in North America and Europe, including Russia. Financially, OTI closed a €$1.5m financing round led by Green Gateway Fund; that investor also led a prior growth funding round in February 2013. No operating metrics were disclosed in the article. OTI Greentech Group AG is a Zug, Switzerland–based cleantech engineering group that provides environmentally friendly solutions and a patented technology for cleaning, recovery and disposal of oil. Its technology is applied to cleaning tanks, ships and industrial machinery, oil recovery from sludge, soil remediation and the processing and extraction of oil from conventional and unconventional deposits. The company is led by President Stephan Rind. In February 2013 OTI raised about CHF4m (approximately €3.4m) in funding, the first portion of a total planned €6.0m round with a second tranche expected later in 2013. The proceeds will be used to expand business mainly in North America, the Middle East and Russia and to strengthen its intellectual-property portfolio. The round was led by Wermuth Asset Management’s Green Gateway Fund.

Total raised

$6M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2014