Rennes-based renewable energy company, Sweetch Energy, has secured €25 million in a Series A funding round to accelerate the industrial and commercial deployment of osmotic energy in France and globally. The financing was led by Crédit Mutuel Impact-managed fund, Révolution Environnementale et Solidaire, with contributions from Sweetch Energy’s existing investors and industrial partners.
- The funding will support Sweetch Energy in finalising its first demonstrator generating carbon-free electricity using its proprietary INOD® technology, a project it is developing in partnership with Compagnie Nationale du Rhône (CNR).
- The funds will also be utilised to expand research and development activities, launch the first industrial assembly lines, and support the international growth of the company, particularly in Europe and North America.
- Sweetch Energy is one of the initial investments of the Révolution Environnementale et Solidaire fund, which is financed by the Crédit Mutuel Alliance Fédérale group’s societal dividend to encourage investments aiming to change production models and develop innovative companies in the energy transition sector.
- Sweetch Energy’s existing investors, Demeter Investment Managers, Go Capital, and Positive Future Capital, as well as industrial partner CNR, have invested in the transaction and remain committed to supporting the company’s ambition.
- The EDF Group, which invested in 2022 via the EDF Hydro entity, is also reinforcing its association with Sweetch Energy through EDF Pulse Ventures’ participation in the transaction.
This latest funding takes the total private and public funding obtained by Sweetch Energy for deploying its technology and establishing an osmotic energy industry to nearly €40 million.
