France

[Funding alert] Paris-based SUBLIME Energy Secures €11.5 Million in Funding

Mar 11, 2024 | By Startup Rise EU

Paris-based SUBLIME Energy secures €11.5 million in funding to accelerate the implementation of its innovative technology directly on farms.

Paris-based SUBLIME Energy secures €11.5 million in funding to accelerate the implementation of its innovative technology directly on farms.

The fundraising round, headed by The Révolution Environnementale et Solidaire managed by Crédit Mutuel Impact, will also allow the company to hire more employees, start a demonstration project to manufacture green fuel by 2025, and establish an innovative biogas collection network.

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Bruno Adhémar, co-founder and president of SUBLIME Energy, said: “This new financing is a key step for SUBLIME Energy. Having proven the efficiency of the world’s first biogas liquefaction and purification technology, we now have the means to deploy it. We are now taking a huge leap towards commercialisation and large-scale deployment, thanks to the confidence of the Crédit Alliance Fédérale teams responsible for the Environment and Solidarity Revolution Fund.”

Presently, almost 90% of biomass resources are owned by farmers. However, the expansion of this industry is being impeded by logistical obstacles in connecting potential sites for biogas production to areas for consumption.

French and European farms with limited capacity for biogas production can benefit from a customized solution offered by SUBLIME Energy's exclusive biogas liquefaction technology. Through the project, biogas from small or remote farms may be collected locally, and by splitting the cost of purification, the farms become economically feasible.

Read also - London-based Agio Ratings Secures $4.6Million in Pre-Seed and Seed Funding

The innovative technology created by the Mines Paris - PSL's CES (Center for Energy Efficiency Systems) will allow for the annual capture of millions of tons of CO2 in France and open up a new market potential of about 26TWh of biomethane.

The generated biomethane will be put to use cutting heavy transportation's carbon emissions. It can be applied directly on farms, for example, in BioLNG-powered tractors, or through big vehicles in the logistics industry.

Sabine Schimel, Managing Director of Crédit Mutuel Impact, added: “By reinforcing the development of the biomethane and bioCO2 sector and providing farmers with additional income, the innovative solution proposed by SUBLIME Energy is fully in line with the investment strategy of our Environment and Solidarity Revolution Fund, financed by the Crédit Mutuel Alliance Fédérale social dividend. We are committed to supporting SUBLIME Energy over the long term to enable it to scale up and successfully commercialise its environmentally friendly technology“.

This most recent round of funding, headed by the Environment and Solidarity Revolution Fund managed by Credit Mutuel Impact and PSL, will support the development, production, and deployment of the demonstration plant. It comes after an initial €1 million investment by Storengy, an ENGIE subsidiary, and the Vestra-Elsaco Group.

Each year, this prototype will generate 300 tonnes of biogenic CO2 and 180 tons of low-carbon fuel. By 2025, it will be implemented in Gazéa, an agricultural methanizer company. It is anticipated that the first commercial project utilizing this innovation will include about twelve methanizers by 2026.

About SUBLIME Energy

SUBLIME Energie is a company that provides solutions for the collection, transportation, purification, and packaging of biogas. It does this by enabling farms to profit from the biogas produced by methanization process and by establishing a new local market for the supply of bioNGV (natural vehicle gas) and bioCO2.

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