Rennes-based Sweetch Energy, a firm specialising in renewable energy, has raised €25 million in a Series A funding round to accelerate the growth of osmotic energy worldwide. The financing was led by Crédit Mutuel Impact’s fund Révolution Environnementale et Solidaire, and featured participation from its existing investors and industry partners.
- Sweetch Energy plans to use the funding to finalize its proprietary INOD® technology, a demonstrator generating clean electricity, currently under development in partnership with Compagnie Nationale du Rhône (CNR).
- The company will also expand its research and development efforts, establish the first industrial assembly lines, and support its global expansion, targeting Europe and North America in particular.
- Sweetch Energy, established in 2015, counts among the first investments of the Révolution Environnementale et Solidaire fund.
- The firm’s disruptive technology, which stems from French academic research, offers a novel source of perennial, natural energy to aid the energy transition and help solve the global energy mix decarbonization dilemma.
- The previous investors of Sweetch Energy, including Demeter Investment Managers, Go Capital, Positive Future Capital, and its industrial partner CNR, participated in the transaction and remain dedicated to supporting the company’s mission.
- Sweetch Energy has secured roughly €40 million in public and private funding for the deployment of its technology and creation of an osmotic energy industry so far.
Sweetch Energy’s co-founder and CEO, Nicolas Heuzé, stated that producing clean, 24/7, competitive electricity poses one of the biggest challenges to a real energy transition. He also expressed his company’s delight at welcoming the long-term fund managed by Crédit Mutuel Impact, and thanked their historic shareholders and industrial partners for their continual support. Heuzé acknowledged that this latest financing round marks a crucial step in the company’s journey to global deployment of osmotic energy.
