Water Horizon Secures €18 Million Series B to Expand Industrial Waste Heat and Low-Carbon Cooling Solutions
Water Horizon, a Toulouse‑based deeptech clean energy startup specialising in industrial waste heat recovery and low‑carbon cooling solutions, has closed a €18 million Series B funding round to accelerate the deployment of its innovative “Cooling As A Service” technology across Europe and internationally. The fresh capital marks a significant step in the company’s growth, positioning it to scale operations, reinforce industrialisation efforts and expand its global footprint as demand rises for sustainable industrial energy solutions.
The latest financing was anchored by continued support from Water Horizon’s long‑standing backers and ushered in a strategic new investor. Banque des Territoires—acting on behalf of the French State under the France 2030 innovation programme—remained a central participant in the round alongside Delmas Investissement et Participation, a historic shareholder with deep roots in energy and industrial services. Enhancing the round’s international dimension was the entry of Groupe EREN, a renewable energy and infrastructure specialist whose expertise spans energy production, storage and sustainability initiatives.
Water Horizon’s core technology centres on proprietary mobile thermal batteries capable of capturing waste heat from industrial processes and converting it into renewable cooling or heat delivered where and when it is needed. This approach not only lowers energy expenditure for industrial and tertiary clients but also significantly reduces carbon emissions compared with conventional refrigeration systems that rely heavily on electricity and high‑global‑warming‑potential refrigerants. The company’s “Cooling As A Service” model aligns with broader market trends towards decarbonisation and energy efficiency in industrial sectors.
Founded in 2017, Water Horizon has developed its technology over several years to address four major challenges in industrial energy transition: efficient utilisation of waste heat, high energy costs, carbon footprint reduction and decarbonisation of industrial operations. The firm’s thermal battery technology captures otherwise wasted heat and stores it for later use, enabling factories to integrate renewable cooling and heating without the need for extensive upfront capital investment.
The €18 million funding will support multiple strategic priorities for Water Horizon in 2026 and beyond. A key focus is accelerating the large‑scale rollout of its solutions across both European and international markets. With increasing pressure on manufacturers to lower emissions and meet regulatory and sustainability targets, scalable, cost‑effective solutions for industrial energy management are in growing demand. The new capital will also help Water Horizon reinforce its industrial capabilities, optimise production capacities and develop operational synergies with partners such as Africa Power Services, an affiliate of Delmas Investissement et Participation that focuses on energy infrastructure projects on the African continent.
In welcoming Groupe EREN as a strategic investor, Water Horizon gains not only financial backing but also access to a partner with experience in large‑scale renewable energy and infrastructure deployments. Groupe EREN’s involvement is expected to enhance Water Horizon’s ability to navigate complex international markets, particularly in regions prioritising energy transition and sustainable industrialisation.
Banque des Territoires has been instrumental in Water Horizon’s funding history, supporting the company through earlier investment phases and reaffirming its commitment via the France 2030 programme. This governmental backing highlights the strategic importance of Water Horizon’s technology within national efforts to modernise energy systems and promote sustainable industrial innovation across French regions and beyond.
With the Series B round complete, Water Horizon is well positioned to capitalise on Europe’s burgeoning renewable cooling market — expected to exceed hundreds of terawatt‑hours annually as industries seek alternatives to carbon‑intensive energy sources. Adoption of thermal battery solutions can help companies reduce operational costs while improving energy efficiency and environmental performance.
As Water Horizon advances its commercial scaling in 2026, it plans to enhance partnerships with industrial customers, deepen integration with existing energy infrastructures and continue refining its technology. The combination of strong financial support, strategic investor alignment and a clear market need for energy transition solutions positions the company to become a key player in renewable industrial energy technologies.
Overall, Water Horizon’s €18 million funding round reflects a growing confidence among investors in technologies that convert industrial waste streams into sustainable energy solutions. With a compelling value proposition and strategic backing from both public and private stakeholders, the startup is poised to expand its impact on industrial decarbonisation efforts worldwide.
