France’s Epyr raises €15 million for industrial heat storage projects
SlateVC led the Series A funding, which will support further installations, including a 35 MWh thermal storage unit at Papeco’s Orval-sur-Sienne site.
French industrial energy technology company Epyr has secured €15 million in Series A financing to support further industrial heat storage installations. SlateVC led the investment, with existing backers AENU and Daphni participating alongside WEPA Ventures, OVNI Capital and Aurum Impact.
The next projects include a 35 MWh storage unit planned for Papeco in Orval-sur-Sienne. The installation will replace the site’s entire natural gas consumption. Energy Pool, a French specialist in energy flexibility, will support the project through its study, deployment and operational stages.
Epyr already has an installation operating at WEPA Group’s Troyes paper mill. Inaugurated in May 2026, the unit took less than six months to build and commission. It supplies steam equivalent to as much as 25 per cent of demand at the site.
The company’s technology uses electricity during cheaper periods to power resistors, warming air that transfers heat into firebricks. The stored energy can then be released when an industrial process requires heat. Epyr combines the equipment with system integration and energy management under a Heat-as-a-Service model, with third-party financing available where needed.
Epyr is also examining further deployments, focusing on industrial steam users in paper production, food and beverages, and chemicals. Co-founders Léa Dardenne and Bastien Oggeri said France had already recorded more hours with electricity prices near zero or below zero in 2026 than in 2025.
