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December 18, 2023
1 min read

Sweetch Energy of Rennes nabs €25M to boost osmotic power worldwide.

Rennes-based renewable energy company, Sweetch Energy, secured €25M in a Series A financing round led by Révolution Environnementale et Solidaire, a fund managed by Crédit Mutuel Impact. The investment is to fast-track the global industrial and commercial development of osmotic energy. Contributions were also made by the startup’s historic investors and industrial partners. The funding will allow the completion of its first demonstrator for clean electricity generation using proprietary osmotic power technology, INOD®, under development in conjunction with Compagnie Nationale du Rhône (CNR) on the Rhône delta, France. Funds will also be used to expand R&D activities, establish initial industrial assembly lines, and support the company’s worldwide expansion, focusing on Europe and North America.

CEO of Sweetch Energy, Nicolas Heuzé, expressed his delight at welcoming the Révolution Environnementale et Solidaire long-term fund managed by Crédit Mutuel Impact, citing clean, 24/7 competitive electricity as a key challenge toward a true energy transition. He further believed that their INOD® technology brings osmotic energy a step closer to achieving this objective. He particularly appreciated the support from their historical shareholders and industrial partners in this new round of financing.

Established in 2015, Sweetch Energy was among the first investments of the Révolution Environnementale et Solidaire fund, funded by Crédit Mutuel Alliance Fédérale group’s societal dividend. This is aimed at promoting investments changing production models and growing innovative companies in the field of energy transition. Sabine Schimel, Managing Director of Crédit Mutuel Impact, sees Sweetch Energy’s unique disruptive technology as a crucial new source of natural and perpetual energy to aid the energy transition and tackle global energy mix decarbonation challenges. She looks forward to supporting the company’s scale-up on the long haul and structuring the osmotic energy industry.

Sweetch Energy’s historical investors including Demeter Investment Managers, Go Capital, and Positive Future Capital, along with its industrial partner CNR, participated in the transaction and are committed to supporting the company’s ambitions. The EDF Group, which had invested in Sweetch Energy previously in 2022 through the EDF Hydro entity, participated in the transaction through EDF Pulse Ventures, thereby strengthening its relationship with Sweetch Energy. The current funding raised the total private and public funds secured by Sweetch Energy for deploying its technology and establishing an osmotic energy industry to nearly €40M.

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