Sweetch Energy, a Rennes-based renewable energy firm specializing in osmotic energy, has just secured a substantial €25 million in Series A financing. This investment marks a significant leap forward for the company’s mission to rapidly expand the use of osmotic energy both within France and internationally.
The funding, spearheaded by Révolution Environnementale et Solidaire managed by Crédit Mutuel Impact, alongside Sweetch Energy’s existing investors and industrial partners, will play a pivotal role in several key initiatives.
One of the primary goals is to finalize the development of their cutting-edge INOD® technology demonstrator. This innovation is set to generate clean electricity and is currently in the works in partnership with Compagnie Nationale du Rhône (CNR) in the Rhône delta region of France.
Additionally, these funds will further fuel Sweetch Energy’s research and development endeavors. They’ll be instrumental in establishing the first industrial assembly lines and supporting the company’s global expansion, with a keen focus on Europe and North America.
Nicolas Heuzé, co-founder and CEO of Sweetch Energy, expressed his excitement about the prospects, stating, “Producing clean and competitive electricity round the clock is a major step in our journey towards authentic energy transition. Our INOD® technology holds immense promise in achieving this goal. With the backing of Révolution Environnementale et Solidaire fund and continued support from our valued partners, we’re poised to take substantial strides in global osmotic energy deployment.”
Established in 2015, Sweetch Energy stands as one of the early beneficiaries of the Révolution Environnementale et Solidaire fund, dedicated to revolutionizing production models and nurturing innovative ventures in the energy transition domain, funded by Crédit Mutuel Alliance Fédérale group’s societal dividend.
Sabine Schimel, Managing Director of Crédit Mutuel Impact, emphasized, “Sweetch Energy, one of our flagship investments, showcases the potential of disruptive technology derived from French academic research. Their osmotic energy solution presents a sustainable energy source pivotal for the global energy mix decarbonization. We’re committed to supporting their long-term growth and shaping the osmotic energy industry.”
Notably, Sweetch Energy’s existing investors Demeter Investment Managers, Go Capital, Positive Future Capital, and industrial partner CNR have participated in this funding round, reiterating their commitment to the company’s ambitious goals. Furthermore, the EDF Group, strengthening its relationship, joins in through EDF Pulse Ventures’ participation.
This latest injection of funds brings Sweetch Energy’s total secured funding, both private and public, for advancing their osmotic energy technology and fostering an osmotic energy industry, to nearly €40 million.
