Electranova Capital, the venture fund co-managed by energy utility EDF and investment firm Idinvest partners, has invested €5m ($6.8m) in France-based sustainable construction Techniwood.
Techniwood’s main product is Panobloc, an industrial construction system based on a high-efficiency wood insulation composite. It is used in sustainable construction and building renovations.
The company will use the funding to grow its industrial operations in both France and international markets.
Nicolas Chaudron, partner at Electranova Capital, said: “The solutions developed by Techniwood are perfectly adapted to enabling this strategic industry to reach the energy efficiency and low carbon-emission targets set by French and European decision makers,” said to justify his company’s commitment.
Electranova has also invested $27.7m in Leosphere, a France-based optoelectronic devices manufacturer, and an undisclosed amount in Germany-based fuel producer Sunfire so far this year.