GTT Strategic Ventures, the investment arm of the GTT Group, has announced its participation in a substantial €16.5 million financing round aimed at bolstering the development of Energo, a French technology firm specializing in the production of synthetic molecules utilizing plasma catalysis. The investment, made in conjunction with Crédit Mutuel Alliance Fédérale’s Fonds de Révolution Environnementale et Solidaire and Nord France Amorçage, marks a significant stride in advancing Energo’s pioneering initiatives in sustainable energy.
A French technology company created in 2018 following academic research at Chimie Paris Tech, Energo is developing a disruptive technology based on the plasma catalysis process, which enables the production of renewable energies such as green hydrogen, biofuels, or methane from CO2, biogas, and ammonia. Energo’s technology is energy-efficient, competitive, and adaptable to all energy sources. Its fields of application are numerous and innovative: the recovery of CO2 by methanation, the dissociation of ammonia to produce hydrogen, or the dry reforming of methane to produce hydrogen or organic liquids (methanol, acetone, etc.). Winner of the first class of La French Tech 2030 in 2023, Energo has benefited, since its creation, from the support of Bpifrance, Ademe, the Hauts-de-France region, the PSL-Chimie Paris University, and the European Union to support its development.
Philippe Berterottière, Chairman, and CEO of GTT, commented: “GTT, through its investment fund GTT Strategic Ventures, is proud to support the development of Energo, which contributes, through its innovative and competitive technologies, to the energy transition. Energo’s solutions have the potential to contribute to the decarbonization of maritime transport through the production of low-carbon fuels, as well as to the emergence of the hydrogen sector. Alongside our co-investors, we will enthusiastically support a talented management team committed to building a sustainable world. Energo is the fifth minority investment for GTT Strategic Ventures, whose ambition is to contribute to the growth of climate tech champions.”
Vincent Piepiora, CEO of Energo, comments: “We are delighted to have finalized this financing round with leading investors in the field of sustainable and responsible investment. This financing will enable us to maintain our technological lead by investing heavily in our R&D and our equipment and energy production facilities. This collaboration will support our expansion, strengthen our market position, boost our innovation and consolidate our ESG approach.”
Sabine Schimel, Managing Director of Crédit Mutuel Impact, comments: “The technology developed by Energo is a highly promising and efficient solution for the production of biofuels, green methanol, and green hydrogen. Contributing to the decarbonization of industry and mobility, this operation is fully in line with the investment strategy of our fund ‘Révolution Environnementale et Solidaire’, funded by Crédit Mutuel Alliance Fédérale’s ‘dividende sociétal’. We share the ambition and the industrial vision of Energo’s founders and are proud to support the company over the long term, paving the way for a new scale and commercial success of its technology with a high environmental impact.”
The collaboration between GTT Strategic Ventures, Crédit Mutuel Alliance Fédérale’s Fonds de Révolution Environnementale et Solidaire, and Nord France Amorçage signifies a collective commitment to fostering technological innovation and sustainable solutions in the pursuit of a greener future. As Energo continues to chart new frontiers in the realm of sustainable energy, its transformative impact is poised to resonate across industries, driving tangible progress towards a more sustainable and resilient world.
About Energo
Energo is a French start-up that has developed a disruptive technology based on the coupling of catalysis and cold plasma, enabling the production of molecules of interest for the decarbonization of industry, such as green hydrogen, biofuels, or synthetic methane from CO2, biogas, and ammonia.
Founded in 2018 by Vincent Piepiora on the basis of academic research conducted at ChimieParisTech – Université PSL, Energo offers a competitive, compact solution that can be adapted to any site, providing a decentralized approach conducive to the energy transition. Cold plasma catalytic reactors are an effective and innovative tool for the chemical industry, with numerous applications in the field of decarbonization.
Source GTT Group