Paris, France-based mission-driven deeptech startup specializing in biogas liquefaction technologies SUBLIME Energy raised EUR 11.5 million in financing. The company announced the investment on March 11, 2024. The Révolution Environnementale et Solidaire, managed by Crédit Mutuel Impact, led the financing for the company.
Purpose of financing for SUBLIME Energy
With the latest financing, SUBLIME Energy seeks to accelerate the implementation of its innovative technology directly on farms.
The company plans to expand its hiring operations & to recruit new staff. It further seeks to launch a demonstration project to produce green fuel by 2025 and create a ground-breaking network to collect biogas.
The investment also supports the development, production and deployment of the demonstration plant.
What the company’s official has to add
Bruno Adhémar, co-founder and president of SUBLIME Energy, said, “This new financing is a key step for SUBLIME Energy. Having proven the efficiency of the world’s first biogas liquefaction and purification technology, we now have the means to deploy it. We are now taking a huge leap towards commercialization and large-scale deployment, thanks to the confidence of the Crédit Alliance Fédérale teams responsible for the Environment and Solidarity Revolution Fund.”
What the investors have to comment
Sabine Schimel, Managing Director of Crédit Mutuel Impact, further added, “By reinforcing the development of the biomethane and bioCO2 sector and providing farmers with additional income, the innovative solution proposed by SUBLIME Energy is fully in line with the investment strategy of our Environment and Solidarity Revolution Fund, financed by the Crédit Mutuel Alliance Fédérale social dividend. We are committed to supporting SUBLIME Energy over the long term to enable it to scale up and successfully commercialize its environmentally friendly technology“.
About the company
SUBLIME Energy is a deeptech startup that was established in 2019 with the goal of generating renewable gases to aid in the energy transition. By substituting for their fossil fuel-based counterparts, these gases are intended to increase the resilience of the region. Presently, almost 90% of biomass resources are owned by farmers. However, the expansion of this industry is being impeded by logistical obstacles in connecting potential sites for biogas production to areas for consumption. French and European farms with limited capacity for biogas production can benefit from a customised solution offered by SUBLIME Energy’s exclusive biogas liquefaction technology. Through the project, biogas from small or remote farms may be collected locally, and by splitting the cost of purification, the farms become economically feasible.
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