Energy
Epyr secures series a funding for industrial storage expansion
France-based Epyr has secured fifteen million euros in a funding round led by SlateVC to scale its industrial thermal storage operations.
Key points
- Epyr raised fifteen million euros in a Series A financing round led by SlateVC.
- The capital will support a 35-MWh thermal storage project at Papeco in France.
- The technology converts low-priced electricity into heat stored in firebricks for industrial use.
What happened
According to reporting by Mercom India, French thermal storage firm Epyr has gathered fifteen million euros in an oversubscribed Series A investment cycle. SlateVC directed the financing effort, with backing from previous supporters AENU and Daphni alongside WEPA Ventures, OVNI Capital, and Aurum Impact. This financial boost follows an earlier pre-seed round of three million euros completed eighteen months prior.
Epyr specializes in systems that leverage electricity during low-tariff windows to produce and retain heat for manufacturing purposes. The setup utilizes electric elements to warm air, which subsequently transfers thermal energy into firebricks designed for high-temperature retention. This mechanism allows factories to access heat on demand. The enterprise targets industrial steam applications, specifically focusing on the paper, chemical, and food and beverage sectors.
Current deployments
The newly acquired capital will advance ongoing initiatives, most notably a 35-megawatt-hour storage installation at the Papeco facility situated in Orval-sur-Sienne. Mercom India noted that this deployment is slated to function as the largest project of its kind in France, completely offsetting the factory's natural gas utilization. Furthermore, Epyr integrated a similar unit at a hygiene paper manufacturing plant operated by the WEPA Group in Troyes, which commenced operations earlier in 2026.
Why it matters
Industrial decarbonisation remains a critical challenge for heavy energy users seeking insulation from volatile fossil fuel markets. With Henry Hub natural gas spot prices standing at 3.22 US dollars per MMBtu as of October 2024 according to US EIA figures, and European industrial heat representing a substantial market segment, technologies that bridge the gap between variable electricity supply and steady thermal demand offer a viable pathway for emissions reduction. For investors and policymakers in developing regions, tracking the commercial scaling of high-temperature brick storage provides insight into alternative industrial decarbonisation strategies that bypass traditional gas reliance.
Original reporting
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