Geocorail, a La Seyne-sur-Mer, France-based company specialized in the prevention of coastal erosion and the protection of marine structures, raised €2m in funding.
The capital increase was entirely subscribed by Truffle Capital.
The company intends to use the funds to speed up the technical and commercial developments of its electrochemical process which enables the in situ creation of a natural stone called Geocorail® from minerals already present at the site. Geocorail aims to reinforce its operational teams, engage in R&D programs, increase the number of its experimentation sites and develop applications complementary to existing engineering practices.
Founded in 2012, Geocorail develops and commercializes solutions to mitigate shore erosion and protect maritime coastal works and offshore structures, which are based on an eco friendly electrochemical process that allows the in situ creation of a natural stone from minerals present at the site. The Geocorail® exhibits mechanical resistance and presents an aspect which allows it to blend into its surroundings. It also offers the advantage of sequestrating some of the carbon that is present in the oceans.
In addition to the funding, the company appointed Dominique Michel as Chairman and Philippe Andreani as General Manager.
FinSMEs
07/12/2015