The round saw participation from Andera Partners via its recently launched fund “Andera Smart Infra 1”, alongside the company’s historical shareholders, including Noria, Johes, Starquest, Ciclad, and Bpifrance.
Guy Auger, Partner at Andera Partners, says, “Kyotherm has, in just a few years, become a key player in renewable heat. Its solid economic model, as well as its growth prospects and its positive environmental impact, convinced us. We are delighted to support them and contribute to their growth and the deployment of their impact infrastructure.”
Investing in energy efficiency projects
Founded in 2011 by Arnaud Susplugas, Kyotherm is an investment company that specialises in third-party financing of renewable heat production projects and energy efficiency projects.
The company invests in energy efficiency projects through the achievement of energy savings and the recovery of waste heat for large industrial groups such as ArcelorMittal or Faurecia, or through lighting or insulation projects.
For more than 10 years, Kyotherm has supported energy projects in the fields of biomass, geothermal energy, solar thermal, waste heat recovery, and energy efficiency in France and abroad. The company has thus developed a portfolio of 130 MW of capacity spread over around a hundred sites around the world.
Committed to the fight against climate change and in favour of low-carbon energies and energy savings, Kyotherm translates this commitment through the choice of technologies and projects having a maximum impact on the reduction of greenhouse gas emissions. The company estimates that its 130 MW of capacity currently in the portfolio will avoid the emission of more than 1,500,000 tons of CO2.
Kyotherm has subsidiaries in France, the US, Germany, Italy, the UK, and the Netherlands, and can invest without geographical restriction.
Kyotherm claims that the funds will help them accelerate development – after passing the 100 MW capacity bar in operation during 2021, the company is aiming for 200 MW at the end of 2022 and 500 MW in 2025.
Founder Arnaud Suplugas says, “This new fundraising validates the relevance of Kyotherm’s positioning, which seeks above all ‘carbon value’ in its projects, with a CO2 impact per euro invested among the best on the market. This funding also completes a cycle of three operations in less than three years during which we have raised a total of €94M to invest in our project companies (thus making it possible to finance approx 400M of capex with the assistance from senior lenders).”