NEWS COMMENTARY

Newheat raises €7 million to advance solar heat and waste-heat recovery

Published:
December 13, 2021
Services:
Government & Non-Profit More...
Priorities:
Asset Management More...
Activities:
Investment
Average importance

Prior to the recently announced funding, the French startup had raised €1.8 million in 2017 and €15 million in 2020. The company has five projects completed and two under construction, including one paper mill, two food processing plants, one brickyard, two district heating networks, and one large-scale greenhouse, ranging from 1,000 MWh to 8,000 MWh per year. Newheat plans to use the funding to increase its head count, support R&D, and accelerate commercial deployment and international expansion. The demand for low-carbon heat will grow steadily, opening up more opportunities for solar thermal companies, though the up-front cost, intermittency, and physical footprint of solar heat will remain barriers in the near term.

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