Sweetch Energy raises EUR 5.2m to help harness energy in deltas

French company Sweetch Energy said today it has secured a EUR-5.2-million (USD 6.2m) investment to help develop its technology that seeks to tap the energy created in deltas and estuaries when river fresh water meets sea water.

The funding will allow the company to build the first full-scale prototype of its osmotic energy technology within the next three years.

The company says its membrane technology combines breakthroughs in nanotechnologies and materials, and achieves performance and cost-efficiency levels that pave the way to large-scale deployment of osmotic energy.

Osmotic energy is generated from the difference in the salt concentration between fresh water and sea water, and could become an abundant source of non-intermittent renewable energy, adding to existing technologies in the field.

The investment was led by new investor Future Positive Capital alongside existing investors Demeter and Go Capital. Dominique Gaillard, co-founder of Ardian, Fabio Ferrari, founder of hydrogen outfit Symbio, and the French environmental and energy management agency ADEME also took part in the funding round.

Sweetch Energy chief executive and co-founder Nicolas Heuze said that the new funding will enable the company to kick off its industrialisation phase after three years of laboratory research. "This includes expanding our engineering team, developing manufacturing capacities and building a first full-scale prototype within the next three years. We are currently exploring partnerships to identify the ideal location to install our prototype," Heuze added.

(EUR 1.0 = USD 1.192)

Choose your newsletter by Renewables Now. Join for free!