Epyr Raises €15M to Scale Industrial Heat Storage After WEPA Deployment
French startup Epyr has secured €15 million in Series A funding following the successful commissioning of its industrial heat storage technology at WEPA Group’s paper mill, highlighting a shift toward electrification in Europe’s industrial energy sector.
Epyr, a French industrial energy technology startup, has raised €15 million in a Series A funding round led by SlateVC, following the commissioning of its first industrial heat storage installation at WEPA Group’s paper mill.
The new installation supplies up to a quarter of the site’s steam requirements, representing a significant step in reducing reliance on fossil fuels for industrial heat production. Industrial heat accounts for 20 per cent of global energy consumption, making advances in this sector critical to energy transition efforts.
Investors in the round include existing backers AENU and Daphni, as well as WEPA Ventures, OVNI Capital, and Aurum Impact. The financing will support Epyr’s expansion in the European market, aiming to scale its industrial heat storage solutions for wider deployment.
The technology’s successful integration at WEPA underscores its practical viability and commercial potential. For Europe, where the European Union has prioritised electrification of industrial heat to cut emissions and reduce dependence on imported fossil fuels, Epyr’s approach aligns closely with policy objectives.
Industry analysts view this development as a potential disruptor for the traditional fossil fuel-based energy market. Epyr’s technology may offer manufacturers a way to decarbonise operations, improve energy resilience, and meet tightening regulatory standards.
However, Epyr’s continued growth will depend on ongoing investment and its ability to compete with established energy providers. Regulatory challenges and the need for substantial capital to scale operations remain key risks.
The funding comes amid heightened investor interest in energytech startups focused on sustainability and decarbonisation, reflecting broader trends in both the European and global industrial sectors.
