SlateVC leads Epyr’s €15M Series A to electrify industrial heat

A major opportunity for European industry

Industrial process heat is one of the largest levers for decarbonising European industry, and electrifying it has become an EU priority. It strengthens industrial competitiveness, cuts emissions and builds energy sovereignty. Market conditions now favour electricity: in France, 2026 has already had more hours of near-zero or negative power prices than all of 2025.

Turning low-cost electricity into steam

Epyr’s units capture electricity during low-price hours and store it as high-temperature heat in firebricks, ready to be released whenever the process needs it. This flexibility also helps balance the power grid. Epyr delivers the solution as Heat-as-a-Service, an all-in-one offer covering technology, system integration, energy management and, where needed, financing. Industrial sites can electrify their heat quickly and simply.

From a first unit to a growing pipeline

Epyr’s first unit, inaugurated in May 2026 at WEPA Group’s Troyes paper mill, was built and commissioned in under six months. Papeco has since selected Epyr to deploy a 35 MWh unit at its Orval-sur-Sienne site, which will replace all of the site’s natural gas consumption. Several additional deployments are under study across paper, food and beverage, and chemicals.

Why we invested

Our research on industrial heat showed that the business model matters as much as the technology. Epyr combines proven technology with an offer that makes electric heat easy to adopt for industrial sites of every size. Epyr was founded in 2024 by Léa Dardenne, former BCG partner and programme director in the French government’s ecological transition team, and Bastien Oggeri, co-founder of Innovafeed. Together they have built a team of 15 people with expertise in technology, energy and industry. We are proud to support them as they scale across Europe, alongside existing investors AENU and Daphni, who are doubling down, as well as WEPA Ventures, OVNI Capital and Aurum Capital.

“We were convinced by the quality of the entire Epyr team, their speed and their customer-centric approach. They deliver climate impact, energy cost savings and resilience to industrial sites. Epyr has the potential to become a European leader in electrifying the €100bn industrial heat market. We are delighted to enable their growth in France and beyond.”
Sébastien Léger, co-founder and General Partner, SlateVC

“In France, there have already been more hours of near-zero or negative power prices this year than in 2025. That electricity is the cheapest, cleanest energy source European industry has. Our mission is to harness it, and this Series A lets us do it at scale.”
Léa Dardenne and Bastien Oggeri, co-founders of Epyr

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