Rennes-based Sweetch Energy secures €25 million in series A round funding to expedite the industrial and commercial development of osmotic energy in France and abroad.
Led by Révolution Environnementale et Solidaire, a fund managed by Crédit Mutuel Impact, Sweetch Energy’s industrial partners and previous investors also participated in the acquisition.
With the help of the investment, Sweetch Energy will be able to wrap up the building of its first demonstrator that will produce clean electricity utilising the exclusive INOD® technology, which is currently being explored on the Rhône delta in France in collaboration with Compagnie Nationale du Rhône (CNR).
Additionally, it will be used to build the first industrial assembly lines, boost R&D efforts, and support the company’s international expansion—particularly in North America and Europe.
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Nicolas Heuzé, co-founder and CEO of Sweetch Energy, said: “Producing clean, 24/7, competitive electricity is one of the main challenges toward a true energy transition. Thanks to our INOD® technology, osmotic energy has now the potential to achieve this objective. We are delighted to welcome the Révolution Environnementale et Solidaire long-term fund managed by Crédit Mutuel Impact. With this new round of financing, and with the continued support of our historic shareholders and industrial partners, we can now take another decisive step towards deploying osmotic energy globally”.
Sabine Schimel, Managing Director of Crédit Mutuel Impact, added: “Sweetch Energy is one of the very first investments of the Révolution Environnementale et Solidaire fund, which is funded by Crédit Mutuel Alliance Fédérale’s societal dividend. Every year, our group funnels 15% of its net income to finance environmental and social transformation projects tackling climate change. With its unique disruptive technology, directly resulting from French academic research, Sweetch Energy offers a new source of natural and permanent energy to support the energy transition and meet the global energy mix decarbonation challenges. We are convinced of the company’s potential and aim to support its scale-up on the long run and structure the osmotic energy industry.”
Along with its industrial partner CNR, Sweetch Energy’s previous investors Demeter Investment Managers, Go Capital, and Positive Future Capital took part in the deal and are still dedicated to assisting the company achieve its objectives.
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With this latest funding, Sweetch Energy is now raising approximately €40 million in total from both public and private sources for the implementation of its technology and the creation of an osmotic energy sector.
About Sweetch Energy
Sweetch Energy was founded in 2015 and is one of the initial investments of the Révolution Environnementale et Solidaire fund. This fund was created by the Crédit Mutuel Alliance Fédérale group using its societal dividend to support investments aimed to develop innovative companies in the energy transition space and change production models.