At a glance
- SlateVC led the round, as Private Wealth Daily previously reported, and AENU and Daphni invested again.
- Epyr, based in Paris, stores low-cost electricity as heat in firebricks and sells the resulting steam to paper, food and beverage, and chemical plants under a heat-as-a-service model.
- The service model is the part family offices can underwrite: revenue depends on contracted steam supply at a customer site rather than on equipment sales, which places diligence on site economics and counterparty credit. aurum Impact, which lists climate and energy among its four investment themes, participated in Reverion's $175 million round earlier this autumn.
aurum Impact, the impact investor backed by the Goldbeck family, joined Epyr's €15 million Series A as a new investor, Family Office Hub reported. SlateVC led the round, as Private Wealth Daily previously reported, and AENU and Daphni invested again. WEPA Ventures and OVNI Capital were the other new entrants.
Epyr, based in Paris, stores low-cost electricity as heat in firebricks and sells the resulting steam to paper, food and beverage, and chemical plants under a heat-as-a-service model. Customers do not buy the equipment, and third-party financing is arranged where needed. Its first unit, at WEPA's mill in Troyes, was built and commissioned in under six months and inaugurated in May 2026. WEPA is both customer and investor.
The service model is the part family offices can underwrite: revenue depends on contracted steam supply at a customer site rather than on equipment sales, which places diligence on site economics and counterparty credit. aurum Impact, which lists climate and energy among its four investment themes, participated in Reverion's $175 million round earlier this autumn.
Reported by the Direct & Co-Investments desk from Family Office Hub and Private Wealth Daily archive. Published . Corrections