Sweetch Energy, a renewable energy company specialising in osmotic energy, has secured €25 million in a Series A funding round. The transaction was led by Révolution Environnementale et Solidaire, a fund managed by Crédit Mutuel Impact, and included investments from Sweetch Energy’s historical investors and industrial partners. Sweetch Energy’s proprietary INOD® technology provides the potential for 24/7 production of clean, competitive electricity.
- The funding will facilitate Sweetch Energy’s first demonstrator which will generate clean electricity using its INOD® technology.
- This initiative is being developed on the Rhône delta (France) in partnership with Compagnie Nationale du Rhône (CNR).
- The funds will also support the growth of R&D activities, establish the first industrial assembly lines, and foster the global expansion of the company, particularly in Europe and North America.
Founded in 2015, Sweetch Energy is one among the first investments of the Révolution Environnementale et Solidaire fund. This fund is set up through the societal dividend of Crédit Mutuel Alliance Fédérale group designed to promote investments that encourage the change of production models and advance innovative companies in the energy transition industry.
Sweetch Energy’s historical investors Demeter Investment Managers, Go Capital and Positive Future Capital, along with its industrial partner CNR, have also participated in the funding round and continue to support the company’s ambition. EDF group, which had previously invested in 2022 via the EDF Hydro entity, is strengthening ties with Sweetch Energy by participating in this round via EDF Pulse Ventures.
The new funding brings the total private and public funding backed by Sweetch Energy for the deployment of its INOD® technology and the formation of an osmotic energy industry to nearly €40 million.
