Ciclad, BPI France et al. back Kyotherm
Ciclad and BPI France, alongside previous backers, have invested €18m in France-based Kyotherm, an investment company financing projects focusing on renewable energies.
Ciclad has invested in the vehicle via Ciclad 6, which closed on €180m in 2018. BPI France drew funds from its France Investissement Energie Environnement (FIEE) fund, which closed on €100m in 2017.
Existing French backers Noria and Starquest also participated in the transaction; they initially backed Kyotherm in 2012 and 2010 respectively.
The fresh capital will help Kyotherm to grow in France and expand abroad.
Company
Founded in 2011 and based in Paris, Kyotherm is an investment company that specialises in the third-party financing of renewable heat production projects and energy efficiency projects.
The company partners with businesses running energy projects, such as energy service providers, engineering firms, developers, heat consumers and equipment manufacturers.
People
Kyotherm – Arnaud Susplugas (founder).
Advisers
Equity – HPML (legal); BCTG Avocats (legal); Cofigex (financial due diligence).
Company – LPA CGR (legal).
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