Industrial cooling systems energy efficiency specialist BEEBRYTE raises S$11.5 million and announces EREN Groupe’s investment in the company
Singapore / Paris, 20 July 2022 – Energy efficiency specialist BeeBryte has raised S$11.5 million (€8.2million) to finance its rapid growth in Europe and Asia and to continue developing its patented predictive control solution for industrial cooling and heating systems. This second round of funding marks EREN Groupe’s acquisition of a 25% stake in the company as a strategic partner. The company’s founders,Compagnie Nationale du Rhône (CNR), and other longstanding individual shareholders are also reinvesting.
BeeBryte specialises in ventilation, air conditioning and refrigeration systems for industrial buildings, and stands out by “extracting hidden value from available data to better utilize existing equipment”. An industrial cooling system can represent up to 80% of a logistics warehouse’s energy costs. BeeBryte’s patented software solution allows for automatic and real time optimisation of various refrigeration systems equipment (chillers, pumps, evaporators, etc.) to make it more energy efficient. This can reduce electricity costs by up to 40%. BeeBryte is therefore disrupting the capital-intensive approaches, which replace old equipment.
Operational since 2018, the BeeBryte solution won the United Nations’ Energy Globe Award in 2021 and has obtained the Solar Impulse Efficient Solution label (foundation led by Bertrand Piccard). It is currently used in Europe (France, Germany, Italy, Netherlands, Sweden, Switzerland) and Asia (Singapore, Malaysia and Thailand) by clients such as Carrefour, DHL, Solvay, Leclerc, Intermarché, Continental, FM Logistic, Lineage and Kuehne+Nagel.
Patrick Leguillette and Frédéric Crampé, cofounders of BeeBryte, explain: “our proprietary technology has successfully combined “innovation”, “energy efficiency” and “a reduced carbon footprint”. It offers automatic and predictive remote control, operational support and maintenance of heating and cooling equipment of critical use in industry. With no initial cost for clients, BeeBryte pays for itself through the savings generated by our solution. This is a winning innovation on three levels: for our clients, for the planet and for us!”.
Pâris Mouratoglou, Founder and Chairman of the Supervisory Board of EREN Groupe, comments: “BeeBryte presents strong growth potential with a portfolio of industrial clients that are extremely satisfied with the service. The current state of soaring energy prices is accelerating demand. We were attracted by the expertise and professionalism of the BeeBryte team, which has been able to develop this remarkable technology. Finally, we can see great synergies ahead with other EREN companies and operations working to forward the energy transition and decarbonisation of the economy.”
Frédéric Storck, Head of Energy Transition and Innovation at CNR, adds: “In addition to improving energy efficiency, the BeeBryte solution is able to characterise and use the thermal inertia of the production plants and facilities it controls. This ability to leverage an underutilised source of energy flexibility is essential in order to support the power grid in this challenging time. It also represents a source of additional income for their clients by providing grid services, price-arbitraging and shaving power peak demand.” This round of fundraising will enable the company to continue to expand its business in Europe and Asia, and maintain its competitive advantage by continuing with R&D and upscaling of new innovations, including the predictive maintenance of the equipment BeeBryte controls.
About BeeBryte (www.BeeBryte.com):
BeeBryte helps its clients consume electricity in a smarter, more efficient and cheaper way while reducing their carbon footprint. The company provides a remote support service for the operation and maintenance of industrial heating and cooling systems, using a patented proprietary automatic and predictive control technology that applies artificial intelligence algorithms. This solution adds an extra layer of intelligence to centralised building management systems (BMS), making equipment up to 40% more energy efficient. BeeBryte currently has 30 employees and intends to increase to 50 by 2024. The head office is in Lyon with a subsidiary in Singapore. A short presentation video is available here: https://youtu.be/_3cUGG_swrk
About EREN (https://EREN -groupe.lu/):
Dedicated to saving natural resources, EREN Groupe was founded in 2012 by Pâris Mouratoglou and David Corchia, respectively founder and former CEO of EDF Energies Nouvelles (now EDF Renouvelables). Through its subsidiary Total EREN, EREN Groupe is an independent power producer specialising in renewable energies. It currently has around 3.5 GW of renewable energy capacity in operation or under construction across all five continents. EREN Groupe also promotes sustainable and competitive industrial solutions to save natural resources. To this end, EREN Industries develops companies offering innovative technologies for the energy transition and decarbonisation.
About CNR (www.cnr.tm.fr):
CNR is France’s leading producer of energy from 100% renewable sources, with installed capacity of around 4,000 MW. It transforms solar, wind and water power from the Rhône river, for which it has held the concession for close to a century. This energy business enables CNR to finance development of other general interest projects, in coordination with regional operators, such as inland navigation and port development, irrigation and management of water resources, development of the Rhône River and protecting natural ecosystems. It is majority owned by the public sector (183 local authorities and public institutions, Caisse des Dépôts groupe). ENGIE is its main industrial shareholder.
Brunswick: Agnès Catineau, EREN @brunswickgroup.com, Tel: +33 1 53 96 83 83
BeeBryte: Frédéric Crampé, [email protected], Tel: +65 9625 4770
EREN Groupe: Thierry Faugeras, [email protected], Tel: + 33 6 07 78 95 59