Cryo Pur Raises €6m to Finance its Industrial Development
Palaiseau (91), France – May 5th, 2017 – Two years after its creation and a first fundraising of €3m, Cryo Pur raises an additional €6m, again through the Xerys funds, in order to finance its development. The innovative technology company strengthens its equity and its industrial organization to ready itself for a growing order intake.
"This new fundraising will enable us to achieve our main objectives, namely taking orders on the one hand and industrial growth on the other hand," said Denis Clodic, CEO and Founder of Cryo Pur.
"This new fundraising will enable us to achieve our main objectives, namely taking orders on the one hand and industrial growth on the other hand," said Denis Clodic, CEO and Founder of Cryo Pur.
Thanks to its technological lead in cryogenics applied to biogas, Cryo Pur is today the only company offering a range of solutions for the following applications:
1. Cryo Fuel: production of bio-LNG fuel from biogas to supply LNG or LCNG stations and LNG or CNG trucks, which are rapidly developing in Europe.
2. Cryo Dist: production of biomethane from landfill gas, which constitutes a valuable resource, little exploited to date.
3. Cryo Haul: production of bio-LNG for remote injection into natural gas grids and supply to unconnected industrial sites, enabling numerous agricultural sites far from the grid to embark on biomethane production.
4. Cryo CO2: Simultaneous production of biomethane and liquid CO2 from biogas, which improves the environmental profile of the project while increasing revenue with sales of liquid CO2 to Cryo Pur partner companies.
Cryo Pur masters a unique know-how in the design and operation of cryogenic units, and has 7 patents registered and extended internationally.
The industrial demonstrator in operation at the SIAAP Waste Water Treatment Plant in Valenton (Paris area), installed in a partnership with SUEZ, has acted as a showcase for the technology, enabling Cryo Pur to convince its first customers to invest in its industrial units, which cost from €2m to €6m per contract. Cryo Pur was quickly spotted by industrial players in the waste and biogas sectors, and has focused its commercial development in Western Europe: France, the United Kingdom, Italy, the Netherlands and Scandinavia.
In 2016, Cryo Pur signed its first commercial contract in the United Kingdom. Cryo Pur has also been selected as a turnkey supplier for two agricultural biogas projects in France based on the remote injection model: liquid biomethane produced on an agricultural site is transported by truck to a site connected to the natural gas grid, with a sufficient capacity for year-round biomethane intake.
Finally, Cryo Pur is in advanced discussion to launch a project in Italy using biogas from municipal organic waste, as well as several projects with landfill management companies, where the gas requires a specific treatment, including the liquefaction of biomethane.
Cryo Pur strengthens its industrial organization
Cryo Pur's growth prospects have led the management team to commit dedicated resources for the design and manufacture of industrial units as well as the supervision of subcontractors.
Cryo Pur is currently developing a range of units able to treat 100 to 2,000 Nm3/ h of biogas, which represents production rates between approximately 1 and 20 tons of biomethane per day, and allows to cover practically all the opportunities under consideration today.
The model of Cryo Pur is based on mastering the detailed design of its units, in particular through its Process and Design teams, and on managing the manufacturing in partnership with sub-contractors specialized in the Oil & Gas industry. This model ensures the control of margins for Cryo Pur, and the reliability of the units for customers.
Cryo Pur currently has 25 employees, including 18 dedicated to design.
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Legal advisor for Cryo Pur : Cabinet Ventury Avocats.
Legal advisor for Xerys funds : Cabinet Bredin Prat.
About Cryo Pur
Cryo Pur specializes in the design, manufacture, installation and maintenance of cryogenic biogas upgrading and biomethane liquefaction systems. With its international team of engineers, researchers and technicians, Cryo Pur is recognized for its scientific excellence and for designing technical solutions with high added value for its customers. Cryo Pur puts technological innovation at the heart of its development. Protected by 7 worldwide patents, the Cryo Pur technology brings concrete answers to the challenges of the biogas sector and pushes the limits of energy efficiency through a state-of-the-art process.
Since its creation in May 2015, Cryo Pur has been recognized in particular as winner of the Innovation Trophy at ExpoBiogaz in 2015, Ambassador of French Tech at the COP 21, winner of the "Biogaz d'Argent" at Biogaz Europe in 2016 and winner, with its partners (SUEZ, ENGIE and IVECO), of the "Grand Prix Strategies Logistique" for Sustainable Innovation in 2016.
Find out more on www.cryopur.com
About Xerys
Xerys is a portfolio management company specialising in private equity with an approach that makes the entrepreneur's vision central to its investment philosophy. Xerys supports a limited number of companies, selected according to a rigorous process for the soundness of their fundamentals, their high growth potential and the qualities of their managers.
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