WOBO welcomes this initiative to support the existing renewable energy technologies.
SweetchEnergy Secures €5.2 Million Investment to Develop Osmotic Energy
Sweetch Energy, a European company that pioneers advanced nanotechnology and eco-material science to harness osmotic energy, announced that it has secured €5.2 million to initiate its industrialization phase and develop a first full-scale prototype.
The investment round was supported by a group of deeptech and cleantech investors with a strong track record in backing highly disruptive industrial companies such as Ÿnsect, Meatable or McPhy Energy. It was led by new investor Future Positive Capital, and co-led by existing investors Demeter and GoCapital. Other investors such as Dominique Gaillard, co-founder of Ardian, and Fabio Ferrari, founder of Symbio, one of Europe’s pioneers in the hydrogen industry, also participated. ADEME, the French environmental and energy management agency, provided additional funding as well.
Osmotic energy represents a revolutionary addition to existing renewable energy technologies. Naturally available from the difference in the salt concentration when river fresh water meets sea water, osmotic power provides a non-intermittent and abundant source of clean energy. Unlike wind or solar energies, and similarly to hydropower, it can deliver electricity continuously, and is easily dispatchable to meet the grid baseload power requirements. With an estimated 27,000 terawatt-hours liberated every year in deltas and estuaries around the world – equivalent to today’s global electricity demand – osmotic energy offers an abundant, but so far untapped, clean energy source.
