Sweetch Energy, a Rennes, France-based renewable energy company specialising in osmotic energy, raised €25M in Series A funding.
The round was led by Révolution Environnementale et Solidaire, with participation from others investors and industrial partners. Sweetch Energy’s historical investors Demeter Investment Managers, Go Capital and Positive Future Capital, as well as its industrial partner CNR, participated in the deal. The EDF Group, which had already invested in 2022 via the EDF Hydro entity, is also strengthening its relationship with Sweetch Energy with the participation of EDF Pulse Ventures in the transaction.
The company intends to use the funds to finalise its first demonstrator generating clean electricity using proprietary INOD® technology, currently under development on the Rhône delta (France) in partnership with Compagnie Nationale du Rhône (CNR), to further expand R&D activities, deploy the first industrial assembly lines, and support the global expansion of the company, especially in Europe and North America.
Led by CEO Nicolas Heuzé, Sweetch Energy is a renewable energy player specialising in osmotic energy, committed to a carbon-neutral world. Its INOD® technology enables the production of clean, competitive electricity from salt water, a permanent and abundant source of energy, untapped to date.
The technology is based on a new generation of nanoscale membranes specially designed to harness osmotic energy. Combined with exclusive electrode systems, these membranes combine high ion selectivity and ion transport to achieve unrivalled performance. In addition, they are manufactured using environmentally friendly bio-sourced materials. INOD® technology enables the generation of electricity on an industrial scale using osmotic energy.
The company is financially backed by industrial, deeptech and cleantech investors (EDF, CNR, Go Capital, Demeter Investment Managers, Future Positive Capital) as well as by BPI, Ademe and the European Innovation Council. It also works closely with French research institutions especially with Professor Lydéric Bocquet’s teams (CNRS, ENS).
The new funding brings the total private and public fundings secured by Sweetch Energy for the deployment of its technology and the creation of an osmotic energy industry to nearly €40M.
FinSMEs
19/12/2023