Paris, July 16, 2021 - METRON, a French cleantech company that has been awarded the government's Green20 label, today closed a €18 million Series B financing round led by OGCI Climate Investments. SK Gas, and its historical investors BNP Paribas, STATKRAFT Ventures and Breed Reply, also participated in the round.
METRON also announced the acquisition of Dapesco. The Belgian company's solutions will serve as a complement to METRON's existing product.
OGCI Climate Investments takes a stake and leads the Series B
METRON today closed its €18 million Series B financing round led by OGCI Climate Investments. SK Gas and historical investors BNP Paribas, STATKRAFT Ventures and Breed Reply also participated. This is the first round of a Series B with a second close taking place later this year.
OGCI Climate Investments is a $1B+ fund set up by member companies of the Oil and Gas Climate Initiative (OGCI) to catalyze low carbon ecosystems and deliver carbon reduction. In addition to the financial support, Climate Investments will work with METRON to introduce their technology across OGCI member company's industrial apparatus as a tool to improve energy efficiency.
Improving energy efficiency is critical to reducing GHG emissions, cost and waste. METRON has an exciting technology that we believe can deliver Impact on all three. We look forward to helping the company grow via introduction to the OGCI ecosystem and international markets.
This fund raising will allow METRON to pursue its R&D efforts and to accelerate its international deployment In the world's largest markets. The investment of METRON's Korean partner, SK Gas, demonstrates the company's strong foothold in promising Asian markets.
ACQUISITION OF THE BELGIAN COMPANY DAPESCO
In parallel, METRON has acquired Dapesco, a Belgian company offering a multi-site energy management solution. Dapesco is a leading player in the Belgian, French and Canadian markets, and its technology is particularly complementary to METRON's for less energy-intensive sites.
This acquisition allows METRON to offer a turnkey solution to industrial groups to cover all their energy needs, from offices to the most energy-intensive industrial sites, and to reduce their carbon impact. It also expands METRON's geographical presence by adding Canada to the 27 countries already covered worldwide.
We are delighted to extend the Dapesco adventure with METRON, a company with which we share the same values and the same ambition to act for the energy transition. Our complementary skills enable us to make decarbonization more accessible to all types of industrial sites. This is an opportunity for the entire team to continue working within METRON to accelerate this energy transition, which is more necessary than ever.
This new step allows us to strengthen and expand our support to large industrial companies in their decarbonization.
This double announcement is an important step in the life of the company. OGCI Climate Investments’ entry and Dapesco's expertise allow us to strengthen and broaden our support to large industrial companies in the decarbonization of their activities. Faced with the urgent need to act, cleantech technologies are an integral part of the energy transition and are now recognized by investors and public authorities alike. This is stimulating the market and the current dynamics of French Tech are reflected in companies like METRON. In this respect, we are keeping well in mind the objective announced by the President of the Republic to reach 25 French unicorns by 2025.