- Thank you ENERTIME SA for your trust and thank you Demeter for this landmark partnership which will contribute to the energy efficiency and competitiveness of the French and European industry!
According to the company’s website news release on February 14, 2023, ENERTIME (FR0011915339 – ALENE), a French “Clean Tech” company serving industrial energy efficiency and decentralized renewable energy production (geothermal and biomass) and DEMETER, a European player in venture capital, development capital and infrastructure investment in the infrastructure in the energy and ecological transition, announce the signature of an investment protocol between ENERTIME and the CLIMATE INFRASTRUCTURE FUND (article 9 SFDR) managed by DEMETER.
This equity and quasi-equity financing, for a total commitment of €21 million, is intended to enable the development of ENERGIE CIRCULAIRE, the group’s energy services subsidiary, and the construction of its energy efficiency projects. These installations use the ORC (organic Rankine cycle thermodynamic machines) technology and eventually ENERTIME’s very high temperature heat pump technology, in France and the rest of Europe.
The first project to be financed through this agreement is the 1 MW electrical waste heat recovery system for VERALLIA, the world’s third largest producer of glass packaging for food and beverages, at its Lagnieu plant in the Ain region of France, with the support of the Agence de l’Environnement et de la Maîtrise de l’Energie (ADEME).
The Protocol provides for a partnership between the Parties, for an initial period of 5 years, with priority granted by ENERTIME to DEMETER to add new funding envelopes for new projects beyond the first new projects beyond the initial 21 M€.
For this transaction, Enertime was advised by Echosys Advisory as financial advisor.
