Epyr Raises €15M Series A to Scale Thermal Energy Storage and Electrify European Industrial Heat
Epyr, the French energy tech company electrifying industrial heat with thermal energy storage, led by Léa Dardenne and Bastien Oggeri, has raised an oversubscribed €15 million Series A round led by SlateVC. Existing investors AENU and Daphni are doubling down, alongside WEPA Ventures, OVNI Capital and Aurum Impact.
Epyr’s Series A reflects rising demand for industrial electrification, with fresh capital set to accelerate project delivery, starting with the 35 MWh unit at Papeco.
Making Electric Heat Competitive.
Industrial heat accounts for 20% of global energy consumption and remains heavily reliant on fossil fuels. Rising fuel costs and renewable energy growth are making electrification increasingly competitive.
Epyr’s thermal energy storage captures low-cost electricity to heat firebricks, storing energy for on-demand industrial use while helping balance the power grid.
Through its Heat-as-a-Service model, Epyr combines technology, integration, energy management, and financing to simplify adoption and accelerate deployment.
From First Deployment to a Growing Pipeline.
Inaugurated in May 2026, Epyr’s first industrial thermal energy storage unit at WEPA Group’s Troyes paper mill was built and commissioned in under six months, supplying up to 25% of the site’s steam needs.
Epyr has also been selected to deploy a 35 MWh unit at Papeco’s Orval-sur-Sienne site, set to replace all natural gas consumption. Supported by Energy Pool, the project is France’s largest announced thermal energy storage deployment.
Further projects are under study, with a focus on industrial steam across paper, food and beverage, and chemicals.
“In France, there have already been more hours of near-zero or negative power prices this year than in 2025. That electricity is the cheapest, cleanest energy source European industry has. Our mission is to harness it, and this Series A lets us do it at scale.” Léa Dardenne and Bastien Oggeri, co-founders of Epyr
"We were convinced by the quality of the entire Epyr team, their speed and their customer-centric approach. They deliver climate impact, energy cost savings and resilience to industrial sites. Epyr has the potential to become a European leader in electrifying the €100bn industrial heat market. We are delighted to enable their growth in France and beyond.”Sébastien Léger, co-founder and GP at SlateVC
“Together with Epyr, we have shown that innovative energy solutions can be implemented quickly and successfully in an industrial environment. The first installation has demonstrated the value of both the technology and the partnership. We are excited to build on this success and help accelerate the adoption of clean, reliable, and competitive industrial heat solutions across Europe.” Andreas Krengel, Member of the Management Board at WEPA
