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Energy supplier ekWateur raises €2 million

Funds collected from Aster, BNP Paribas Développement and Bouygues Telecom Initiatives to accelerate the company's growth, develop new services and expand its teams.

"A very old parrot brought him his sunflower seeds and the sun entered his childhood prison." Jacques Prévert

 

Paris, France - Jaunary 5, 2017 (Investorideas.com Newswire) ekWateur, the first collaborative energy supplier, announced today that it has raised €2 million from three major French investors: Aster, BNP Paribas Développement and Bouygues Telecom Initiatives. This was a substantial financing round for ekWateur, closing just a few months after the official launch of its service offering. The supplier had already collected more than €240,000 from eco-savers as of October via renewable energy crowdfunding platform Lumo. The funds will allow ekWateur to accelerate its growth and the development of new IT services and applications, as well as to expand its teams. ekWateur is looking to hire roughly ten new employees in 2017, primarily for web development but also for administrative and commercial management.

Aster is the lead investor in this Series A round. French investors Bouygues Telecom Initiatives and BNP Paribas Développement are also participating equally in this first round.

"For us, this financing round closes out a very solid 2016. Having started from nothing just a few months ago, we have already sold more than 4,000 counters*. These funds come at a really opportune time to help us meet our objective of 50,000 counters by the end of the year," says Julien Tchernia, one of the two founders and the President of ekWateur. "This will also be an excellent start to 2017. With this financing, we are going to be able to scale up and compete even more effectively with the big market players," adds Jonathan Martelli, the other founder of the collaborative supplier and its Managing Director.

"We were impressed by the ekWateur team, which has shown an incredible ability to execute and adapt since the company's creation just one year ago. ekWateur is a fully 'green' newcomer on this market offering an innovative, collaborative and economical approach for energy supply and energy services to individuals. To us, the company represents a real opportunity and a vector for accelerating the opening of the energy market in France and in Europe in the coming years," says Jean-Marc Bally, Managing Director of Aster.

"We are thrilled to participate in the growth of ekWateur. We feel that the applications and services that they offer are relevant and innovative, and that they will enrich best practices in collaborative energy management," says Georges Passet, President of Bouygues Telecom Initiatives.

"We believe in the emergence of an innovative, collaborative player in energy supply. The ekWateur team quickly took the necessary steps to provide a different and attractive offer," explains Nicolas Tymen, Director of Venture Participations at BNP Paribas Développement.

With around twenty employees at present, ekWateur has just reached 4,000 counters only three and a half months after its market launch. The company's goal is to reach 100,000 counters by mid-2018, with the long-term objective of 500,000 counters by 2021—without losing sight of its original principles: fun, simple, "geeky", collaborative and transparent.

*As a reminder, ekWateur announced having reached 1,000 counters on 13 December. As of 1st January 2017, 2,800 public sites were added to this count as a result of being selected last July following the call for tenders by the French government's Procurement Department.

About ekWateur:

ekWateur was founded by Jonathan Martelli and Julien Tchernia in November 2015. After working together managing an alternative supplier in France, they had the idea of launching the first collaborative energy supplier. With energy supply permits since February 2016, ekWateur targets the market of private individuals. ekWateur is an alternative to the dominant players on the French marker — EDF and Engie — and offers fully-renewable electricity and natural gas. The company's service offering was launched on 13 September 2016.

For more information, visit https://ekwateur.fr

Press contacts:

L'AgenceRP for ekWateur
Leïla Bouzouaïd / Fiona Thomas
+33 (0) 6 40 94 15 00 / +33 (0) 6 58 09 20 72 ekwateur@lagencerp.com

About Aster

Aster is a venture capital firm that is organized as a business hub – a new generation of growth accelerator for startups. Resolutely serving entrepreneurs that are looking to establish new industry models (particularly in the energy, manufacturing and mobility sectors), the Aster Business Hub is a complete ecosystem of opportunities supporting growth companies in their development. By mobilising the support of industrial investors in its funds, coupled with a significant international presence (San Francisco, Beijing, Tel Aviv, Nairobi and Paris), Aster acts as a catalyst for venture rounds, market access and geographic expansion. Currently, Aster manages over 300 million dollars in funds raised from major global groups and institutions. For 16 years, Aster has invested in more than 50 startups, including Solairedirect (acquired by Engie in 2015) and ConnectBlue (acquired by u-blox in 2014).

Press contact:

Antidox for ASTER
Florence Naillat
florence.naillat@antidoxgroup.com
+44 777 8227 546

About Bouygues Telecom Initiatives:

Bouygues Telecom Initiatives, a subsidiary of Bouygues Telecom, supports innovative startups to accelerate their market launch. Bouygues Telecom Initiatives is often a first reference for the selected startups. Bouygues Telecom Initiatives' approach is original. It is based on a system of sponsoring between Bouygues Telecom's operation teams and the startup, directly providing the startup with expertise and financial resources. Since it was founded in 2009, Bouygues Telecom Initiatives has studied more than 1,400 applications, set up 37 co-development projects and directly invested in nine startups considered particularly innovative, like Melty, Recommerce Solutions and Visibrain. For more information: https://www.btinitiatives.fr/

Press contact:

BOUYGUES TELECOM
Emmanuelle Boudgourd eboudgou@bouyguestelecom.fr
+33 (0) 6 61 31 25 08

About BNP Paribas Développement

BNP Paribas Développement, an independent subsidiary of the international banking group BNP Paribas, was established in 1988 and directly invests its own funds to support the development of high-performing SMEs and mid-sized companies and assures their long-term viability by arranging changes in ownership as a minority shareholder. Apart from providing companies with stable financial resources, BNP Paribas Développement also works with management teams to help them realise their medium-term strategic goals. Its positioning as a minority shareholder allows its associates to benefit from suitable governance without interference in day-to-day management and to profit from the strength of a well-known group and an experienced partner with a portfolio of over 300 holdings. The provision of equity ensures its partners enjoy long-term, strategy-specific support that permits intermediate transactions, such as capital reorganisations and external growth. In 2016, BNP Paribas Développement created an entity dedicated to innovation capital that invests in the seed phase and in later financing rounds to support the growth of high-potential startups.

Press contact:

BNP PARIBAS
Marion Saraf marion.saraf@bnpparibas.com

More Info:

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