SUBLIME Energy, a mission-driven deeptech startup specialising in biogas liquefaction technologies, has secured €11.5 million in financing to accelerate the implementation of its innovative technology directly on farms.
Led by The Révolution Environnementale et Solidaire managed by Crédit Mutuel Impact, the funding round will also enable the company to recruit new staff, launch a demonstration project to produce green fuel by 2025 and create a biogas-collecting network.
Farmers currently hold more than 90% of biomass resources. However, logistic challenges in connecting potential biogas production sites to consumption sites are holding back growth of this industry, according to the company.
SUBLIME Energy's proprietary biogas liquefaction technology provides a tailor-made solution for French and European farms with limited biogas production capacity.
The project enables the local collection of biogas from small or remote farms, making them economically viable by sharing the costs of purification.
The technology, which is developed by the CES (Center for Energy Efficiency Systems) of the Mines Paris - PSL, will open up a new market potential of approximately 26TWh of biomethane and will enable the capture of millions of tonnes of CO2 per year in France.
The biomethane produced will be used to reduce carbon emissions from heavy transport. It can be used directly on farms, including in BioLNG-powered tractors, or in the logistics sector using heavy trucks.
After an initial investment of €1 million by Storengy (an ENGIE subsidiary) and the Vestra-Elsaco Group, this latest round of financing, led by the Environment and Solidarity Revolution Fund managed by Credit Mutuel Impact and PSL, will support the development, production and deployment of the demonstration plant.
This demonstrator will produce 180 tonnes of low-carbon fuel and 300 tonnes of biogenic CO2 per year.
It will be installed in Gazéa, a company operating an agricultural methaniser, by 2025.
By 2026, the first commercial project is expected to integrate around a dozen methanisers with this innovation.
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 commercialisation and large-scale deployment, thanks to the confidence of the Crédit Alliance Fédérale teams responsible for the Environment and Solidarity Revolution Fund.”
Sabine Schimel, managing director of Crédit Mutuel Impact, said: "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 commercialise its environmentally friendly technology".
SUBLIME Energie secures €11.5M to massively deploy biogas liquefaction
