Sweetch Energy, the Rennes-based renewable energy firm specializing in osmotic energy, has successfully raised €25 million in its recent Series A funding round. The financing was spearheaded by Révolution Environnementale et Solidaire, supported by existing investors, including Demeter Investment Managers, Go Capital, Positive Future Capital, and industrial partner CNR. Notably, EDF Group, a previous investor through EDF Hydro in 2022, is reinforcing its collaboration with Sweetch Energy through the involvement of EDF Pulse Ventures in this funding initiative.
The capital infusion aims to culminate in the completion of Sweetch Energy’s inaugural demonstrator, utilizing the proprietary INOD® technology. Currently in development on the Rhône delta in partnership with Compagnie Nationale du Rhône (CNR), this technology generates clean electricity from saltwater, an untapped and abundant energy source. The funds will also support further research and development endeavors, the establishment of initial industrial assembly lines, and facilitate the company’s global expansion, particularly in Europe and North America.
Sweetch Energy, under the leadership of CEO Nicolas Heuzé, is a key player in renewable energy, specializing in osmotic energy, with a commitment to a carbon-neutral world. The groundbreaking INOD® technology utilizes nanoscale membranes and exclusive electrode systems, crafted from environmentally friendly bio-sourced materials. These components deliver exceptional ion selectivity and transport efficiency, enabling industrial-scale electricity generation through osmotic energy.
Financial backing for Sweetch Energy comes from a consortium of industrial, deeptech, and cleantech investors, including EDF, CNR, Go Capital, Demeter Investment Managers, and Future Positive Capital. Collaboration with BPI, Ademe, and the European Innovation Council, along with strategic partnerships with French research institutions, particularly Professor Lydéric Bocquet’s teams (CNRS, ENS), strengthens Sweetch Energy’s position in the renewable energy landscape.
This latest funding injection brings Sweetch Energy’s total private and public funding to nearly €40 million, propelling the development of its osmotic energy technology and the establishment of an industry around it.
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By Proptechbuzz
By Ravi Kumar
