Techniwood raises EUR5m from Electranova Capital
Techniwood Group has raised EUR5m from Electranova Capital, the cleantech investment fund managed by Idinvest Partners in partnership with EDF, one of the world’s largest utility companies.
The capital raised will be used to support the growth of Techniwood’s industrial business, both in France and internationally.
Techniwood is a widely recognised player within the sustainable building sector in France. The company’s flagship product PANOBLOC was awarded the Gold Trophy for Innovation at the BATIMAT 2013 in Paris. The new industrial construction system, based on a high-efficiency wood/insulation composite, is designed for sustainable construction and building renovations.
François Pelissier, chairman of Techniwood Group, says: “This funding will enable us to continue the adventure we started in 2010. We see it as a validation of the vision and the solutions we pioneered in the field of industrial pre-fabricated materials. We continue to address the market for sustainable construction and renovation using exclusively organically-sourced materials.”
Philippe Ringenbach, partner at Electranova Capital, says: “With a proven team, an innovative product and a growing market, all the factors are in place for the emergence of a new leader in the energy-efficient construction industry. Electronova Capital is delighted work alongside Techniwood to accelerate its growth.”
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