Kanin Energy Secures $100 Million to Scale Industrial Waste Heat Power

The capital injection will accelerate the development and operation of power projects for heavy industry, a sector currently venting massive amounts of thermal energy into the atmosphere. Kanin’s business model centers on the Energy-as-a-Service approach, where the company finances, builds, and manages on-site generation, allowing industrial operators to lower their power costs and carbon footprint without upfront capital investment.

With approximately 50 MW of capacity currently in operation or under construction, including the Mewbourn project in Colorado and a facility at the University of Dayton, the company has moved past the pilot stage. Kanin utilizes organic Rankine cycle turbines—a technology with over forty years of industry deployment—to capture the heat typically lost in steel mills, cement plants, and oil and gas operations. By repurposing this exhaust, Kanin provides a hedge against rising electricity prices and grid instability, offering a practical solution for industries facing increasing pressure to decarbonize their supply chains.