Rennes-based renewable energy company, Sweetch Energy, has secured €25 million in a Series A funding round to advance the global deployment of osmotic energy. The funding round was led by Révolution Environnementale et Solidaire, a fund managed by Crédit Mutuel Impact.
- Sweetch Energy plans to utilize the funding to complete its first INOD® technology-driven clean electricity demonstrator, currently being developed in partnership with Compagnie Nationale du Rhône (CNR).
- The company also aims to expand its R&D activities, deploy the first industrial assembly lines, and enhance its global presence, particularly in Europe and North America.
- This funding round brings Sweetch Energy’s total private and public fundings to nearly €40 million for the deployment of its technology and the creation of an osmotic energy industry.
Founded in 2015, Sweetch Energy is committed to producing clean, round-the-clock, competitive electricity as a major step towards a true energy transition. The company’s INOD® technology allows osmotic energy to potentially achieve this target.
Notably, Sweetch Energy is one of the first investments of the Révolution Environnementale et Solidaire fund, launched by the Crédit Mutuel Alliance Fédérale group’s societal dividend. The fund aims to promote investments that transform production models and foster innovative companies in the energy transition field. It invests 15% of its net income annually in environmental and social transformation projects that address climate change.
Sweetch Energy’s unique disruptive technology, a direct result of French academic research, offers a new source of natural and permanent energy to support the energy transition and meet the global energy mix decarbonation challenges. With this, the company seeks to structure the osmotic energy industry.
Participating in the funding round were Sweetch Energy’s historical investors Demeter Investment Managers, Go Capital and Positive Future Capital, and its industrial partner CNR. The EDF Group also strengthened its partnership with Sweetch Energy through the participation of EDF Pulse Ventures.
