Técnico Senior IREF

Enerin, a Norwegian industrial heat pump technology company, has completed the third tranche of its Series A round, adding Paris-based Ring Capital to its investor consortium. The round includes Climentum Capital, The Footprint Firm, Johnson Controls, Move Energy, PSV Hafnium and Momentum. The company's HoegTemp system delivers thermal energy at temperatures up to 250°C, targeting the industrial heat segment responsible for over 20% of global CO2 emissions. Each installation avoids approximately 36,000 tonnes of CO2 equivalent over its lifetime by replacing fossil-fuel boilers. Enerin is transitioning from development to serial production, with three active pilots and a recent contract with Roche. The funding will scale manufacturing operations and accelerate product development. CEO Arne Høeg said Ring Capital's involvement strengthens the company's ability to deploy solutions across Europe.

Insteel reported Q4 revenues of $159.9 million, up 23.3% year on year, but missed analysts' expectations by 1.3%. The steel wire reinforcing products manufacturer delivered mixed results, beating earnings per share estimates whilst falling short on revenue. Despite achieving the fastest revenue growth among the five commercial building products stocks tracked, Insteel recorded the weakest quarterly performance in the sector. The group collectively beat consensus revenue estimates by 1.2% and saw share prices rise 3.4% on average since earnings. Johnson Controls led the sector with revenues of $5.80 billion, up 6.8% year on year and exceeding expectations by 2.8%. Insteel's stock has risen 3.6% since reporting and currently trades at $34.90.

Johnson Controls has signed an agreement to acquire Alloy Enterprises, a Boston-based thermal management technology company, to strengthen its position in the data centre cooling market. Financial terms were not disclosed. Founded in 2020, Alloy Enterprises specialises in advanced direct liquid cooling components that can improve thermal management efficiency by up to 35% and reduce pressure drop by up to 75%, resulting in lower overall cooling system energy use. The company's proprietary Stack Forging manufacturing process creates single-piece components with embedded microgeometries for maximum heat transfer. The acquisition complements Johnson Controls' existing thermal management portfolio and aligns with its strategy to deliver differentiated cooling solutions for AI-driven data centres. The transaction is expected to close in fiscal Q3, subject to regulatory approvals.