What is Epyr?
Epyr develops thermal energy storage systems for decarbonization.
Business and value proposition
Epyr has developed a thermal energy storage (TES) system that transforms renewable electricity into on-demand industrial heat for manufacturing facilities. The company's solution enables industrial players to reduce their CO2 emissions without requiring additional capital expenditure, while simultaneously protecting them from volatile fossil fuel prices. They are targeting the industrial heating market, which is valued at €200 billion across Europe and North America, with their addressable market expected to grow from €15 billion to €50 billion by 2030. The company's immediate market opportunity lies in drop-in steam-based processes, representing an accessible €7 billion segment.
Epyr's team has chosen a business model where they act as an intermediary between hardware manufacturers and industrial sites, making them CAPEX-free from the customer's point of view.
Why we invested?
Epyr's founding team is one of the best to develop the startup: Bastien is one of the founders of the unicorn Innovafeed, where he proved to be an execution leader, Léa was previously a partner at BCG in the energy sector and has worked with the State on the energy transition. What's more, they have succeeded in attracting very good profiles with high-level profiles already committed.
They have developed TES (Thermal Energy Storage) in containers that are plug & play (the arrangement of components in the container is currently being patented).
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