Gimv leads €6m funding round in GreenWatt

Gimv commited €3.6m to the round. Funding was sourced from Gimv-Agri+, which is a joint fund with the Agri Investment Fund (AIF).

The new investors invested alongside Energie Brabant Wallon, Nivelinvest, Vives and unnamed business angels.

Company
GreenWatt is a spin-out from the Université Catholique de Louvain, Belgium, founded in 2004. It is a developer and supplier of turn-key biogas installations that convert waste to energy. Its target clients are farmers, food and beverage companies, food services companies, food retail and sustainable biomass users. GreenWatt uses a multi-stage anaerobic digestion process and proprietary technology.

Its current customers are located in France and Belgium.

People
Bart Diels, partner, led the deal on behalf of Gimv. Philippe Mengal is CEO of GreenWatt.

Advisers
Equity - BDO (Financial due diligence); AltraLaw (Legal).
Company - ICAFIN SA (Corporate finance); NautaDutilh (Legal). 

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