Enertime

What Enertime does

Enertime is a French industrial cleantech company headquartered in Courbevoie (near La Défense), founded in 2008 by Gilles David — a former AREVA Bioenergy executive — to commercialize thermodynamic machines that recover waste heat from industrial processes. Its core product portfolio comprises three machine families: Organic Rankine Cycle (ORC) modules that valorize medium- and high-temperature waste heat into electricity; very high-temperature industrial heat pumps (PAC HT) that elevate low-temperature heat sources for reuse in industrial processes; and gas expansion turbines (turboexpanders) that convert natural gas pressure-reduction energy into electricity and cooling. The company serves energy-intensive industrial customers (glass, cement, steel, foundries, aluminum, biomass) and municipal/governmental operators (waste-to-energy, district heating, geothermal), with a geographic footprint spanning France, China, Thailand, India, and Ukraine and approximately 50% of revenue from exports.

The business model combines one-time equipment sales with three layers of recurring and service revenue: turnkey EPC contracts, four-tier Operations & Maintenance subscriptions, and a distinctive ESCO third-party financing offering operated via its wholly-owned subsidiary Energie Circulaire that allows customers to deploy systems at zero CAPEX. This financing structure — claimed to be unique among industrial energy-efficiency equipment vendors — is intended to lower customer acquisition friction and convert projects into energy-as-a-service cash flows. Enertime was listed on Euronext Alternext Growth under ticker ALENE in 2017, received BPI France's CSR award in 2018 and was named a 2019 Financial Times European Growth Champion, and conducted an OBSA bond-with-warrants issuance in September 2023 and a €4.9M capital increase in February 2024 to finance growth and Energy Economy Certificate (CEE) prefinancing. In 2024 the operating brand was transitioned to Heatlift while the listed corporate entity (Enertime SA) continues to exist.

Revenue is not publicly disclosed, but operational signals — 51–100 employees, a handful of named enterprise references per fiscal year, and project-based EPC/ESCO contracts — point to a sub-scale industrial OEM. Beyond its core machines, the company positions an innovation pipeline around hydrogen mobility, geothermal, stationary electricity storage, and marine thermal energy.

Name

Enertime

Legal name

Enertime

Website

https://enertime.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

51–100 employees

Short description

Enertime is a French industrial cleantech OEM that designs and delivers Organic Rankine Cycle modules, high-temperature industrial heat pumps, and turboexpanders to recover waste heat for energy-intensive industries, municipalities, and geothermal operators, with a unique ESCO zero-CAPEX financing model.

Ownership category

akta.pro rank

Product category

Waste Heat Recovery Equipment

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Cogeneration Services & Small Power Producers (4991), Heating Equipment, Except Electric & Warm Air Furnaces (3433), Engines & Turbines (3510)

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

akta.pro secondary industries

Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF), Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Combined Cycle & Cogeneration (CHP) EPC (EUAEAAAB)

Keywords

• Organic Rankine Cycle
• Waste heat recovery
• Industrial heat pumps
• Turboexpander systems
• Energy efficiency equipment

Headquarters

HQ city

Courbevoie

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales

Revenue model

1. Equipment Sales (ORC Modules, Heat Pumps, Turboexpanders): Sale of proprietary thermodynamic machines including ORC modules, industrial heat pumps, and turboexpanders to industrial customers
2. EPC Contracts: Turnkey Engineering, Procurement, and Construction contracts for installing energy efficiency systems (ORC, PAC HT)
3. Operations & Maintenance: Four levels of maintenance services for equipment under project-linked contracts
4. Third-Party Financing (ESCO): Energy Service Company (ESCO) model where Enertime provides technology via service contracts with zero CAPEX for customers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Enertime designs and manufactures medium- and high-power thermodynamic machines — Organic Rankine Cycle (ORC) modules, industrial high-temperature heat pumps (PAC HT), and gas expansion turbines (turboexpanders) — that valorize industrial waste heat into electricity and useful thermal energy. These machines are sold either as standalone equipment or delivered through turnkey EPC contracts, supported by four tiers of operations & maintenance services and an ESCO third-party financing model that removes upfront capital expenditure for industrial customers.

Product overview

Enertime is a French industrial cleantech company specializing in thermodynamic machines for waste heat recovery and renewable energy production. The product portfolio centers on three core machine types: Organic Rankine Cycle (ORC) modules for converting waste heat into electricity, industrial heat pumps (PAC HT) for temperature elevation, and gas expansion turbines (turboexpanders) for natural gas pressure recovery. These systems are offered both as standalone equipment and through turnkey EPC contracts, supported by operations & maintenance services and innovative third-party financing (ESCO) arrangements. The company targets energy-intensive industrial sectors including glass, cement, steel, and waste incineration.

Differentiator

Problem solved

Functional benefit

Products and services

• Modules ORC (Organic Rankine Cycle) Organic Rankine Cycle modules that valorize medium- and high-temperature waste heat sources into electricity using a closed-loop thermodynamic cycle with an organic working fluid and proprietary turbine-alternator technology. Designed for energy-intensive industrial customers (glass, steel, cement, waste-to-energy, geothermal).
• Pompes à chaleur industrielles à très haute température (PAC HT) Industrial heat pumps that elevate the temperature level of low-temperature waste heat sources so they can be reused in industrial processes. Targeted at industrial sites seeking energy efficiency and decarbonization of heat demand.
• Turbines de détente de gaz (turboexpanders) Gas expansion turbines that valorize the energy released during natural gas pressure reduction at transport network interfaces, converting it into electricity and cooling. Targeted at natural gas distribution operators, gas processing, and oil & gas customers.
• Contrats EPC Turnkey Engineering, Procurement and Construction (EPC) service providing complete delivery — design, procurement, installation, and commissioning — of Enertime's industrial energy efficiency systems (ORC and PAC HT). Aimed at industrial clients wanting single-point project execution.
• Exploitation & Maintenance Four levels of operations and maintenance services for Enertime equipment delivered under project-linked contracts, supporting long-term reliability and maximum equipment lifecycle. Targeted at owners of installed Enertime systems.
• Tiers financement (ESCO) Third-party Energy Service Company (ESCO) financing enabling industrial customers to deploy Enertime energy efficiency technology with zero upfront CAPEX; Enertime (via subsidiary Energie Circulaire) finances and operates the asset under service contracts.
• Atelier de maintenance des turbines à vapeur Specialized steam turbine maintenance workshop providing rotor and stator maintenance services. Targeted at industrial operators with installed steam turbines requiring component-level service.

Quantifiable outcome

• Industrial sites can reduce electricity consumption by typically 20% up to 100%
• +1 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Cryostar (Air Liquide): Specialist in turboexpanders and cryogenic expanders for natural gas, air separation, and industrial gas applications — a direct competitor to Enertime's gas expansion turboexpander product line.
• Ormat Technologies: Global leader in Organic Rankine Cycle (ORC) power plants, especially for geothermal and waste-heat recovery applications. Directly comparable to Enertime's ORC modules and target customer base in industrial and geothermal power generation.
• Turboden (Mitsubishi Heavy Industries): Italian ORC manufacturer (now part of Mitsubishi Heavy Industries) producing MW-scale ORC modules for industrial waste-heat recovery, biomass, and geothermal — directly competing with Enertime's core ORC product line.
• Calnetix Technologies: Developer of ORC and waste-heat-to-power systems (e.g., the PowerSpan product line) for industrial and marine applications, with comparable technology positioning and customer focus to Enertime's ORC business.
• ElectraTherm (BITZER Group): U.S.-based manufacturer of small-to-medium scale ORC machines for waste heat-to-power, now part of the BITZER Group. Overlaps with Enertime on distributed ORC modules serving industrial low/mid-temperature waste heat sources.
• Exergy (Mitsui & Co.): Italy-based ORC turbine maker (backed by Mitsui) supplying radial-outflow ORC systems for geothermal, biomass, and waste-heat-to-power — a head-to-head competitor to Enertime in the MW-class ORC segment.
• Ochsner Energie Technik: Austrian specialist in high-temperature industrial heat pumps for process heat up to ~150°C, directly comparable to Enertime's PAC HT very-high-temperature industrial heat pump offering.

Broad incumbents

• MAN Energy Solutions: Major manufacturer of large industrial turbines, turboexpanders for gas pipelines, and CHP/orc-adjacent solutions — a broad incumbent competing with Enertime on turboexpander and large-scale waste-heat recovery projects.
• Siemens Energy: Global supplier of industrial steam and gas turbines, CHP systems, and turnkey EPC services. Competes with Enertime at the higher end of the industrial power-generation and waste-heat recovery market via its broader portfolio.
• ANDRITZ Group: Global EPC and equipment supplier for biomass and waste-to-energy power plants, including heat-recovery boiler and ORC integration — competes with Enertime on biomass CHP and waste-heat-to-power projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/enertime
• YouTubeyoutube.com/user/enertime
• LinkedInlinkedin.com/company/695982

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enertime