Sweetch Energy Raises €25M in Series A Funding
Summary
The round was led by Révolution Environnementale et Solidaire, with participation from others investors and industrial partners. The company intends to use the funds to finalise its first demonstrator generating clean electricity using proprietary INOD® technology, currently under development on the Rhône delta (France) in partnership with Compagnie Nationale du Rhône (CNR), to further expand R&D activities, deploy the first industrial assembly lines, and support the global expansion of the company, especially in Europe and North America. Its INOD® technology enables the production of clean, competitive electricity from salt water, a permanent and abundant source of energy, untapped to date. The technology is based on a new generation of nanoscale membranes specially designed to harness osmotic energy. It also works closely with French research institutions especially with Professor Lydéric Bocquet’s teams (CNRS, ENS).