boostHEAT receives EUR 3.4 million under French government Future Investment Program (PIA) to fund industrial scale-up of new generation thermodynamic boiler

Vénissieux, May 11, 2017 - boostHEAT has been awarded €3.4 million of funding from the French government's Future Investment Program (Programme d'investissements d'avenir or PIA) under the PIAVE (Future Industrial Projects) call for proposals coordinated by the General Investment Commission (CGI) and managed by Bpifrance. The funds will be used to finance a manufacturing facility for the industrial scale-up of its innovative thermodynamic boilers.

boostHEAT is currently designing and developing a new generation of renewable energy thermodynamic boilers based on a patented technological innovation, the thermal compressor. This innovation is used to activate a thermodynamic cycle that guarantees excellent energy efficiency. boostHEAT offers a highly energy-efficient product that can cut gas consumption by half and reduce CO₂ emissions accordingly. The system provides heating, domestic hot water and air-conditioning for individual households, collective housing and the tertiary market.

The €3.4 million funding awarded by Bpifrance under the Future Investment Program will be used to finance the construction of a facility for industrial-scale manufacture of the boostHEAT boilers. The new plant located on the Vénissieux complex will meet all the latest requirements of Industry 4.0.

boostHEAT co-founders Luc Jacquet and Jean-Marc Joffroy explained: “boostHEAT plans to establish a permanent foothold in the French industrial landscape and harness French expertise, particularly in the Auvergne-Rhône-Alpes region, to develop its innovative boiler and make its own contribution to energy transition. We are extremely grateful to the General Investment Commission, Bpifrance and the experts who reviewed our application for their support for the achievement of our goals.”

Thomas Sennelier, head of Bpifrance's Ecotechnologies division, added: “This industrial project based on disruptive technology, the result of several years' development, is a perfect illustration of Bpifrance's support for an efficient and innovative industry serving energy transition.”

Around 50 jobs will be created by 2018 and further hiring will follow in accordance with boostHEAT staffing requirements.

The market launch of boostHEAT's renewable energy thermodynamic boiler is scheduled for 2018.

A propos de boostHEAT

Acteur industriel français de l'efficacité énergétique, boostHEAT conçoit, développe et industrialise la nouvelle génération de chaudières thermodynamiques EnR pour la production de chauffage, d'eau chaude sanitaire et de climatisation à destination du logement individuel, collectif et tertiaire.

Basée sur une technologie brevetée de compression thermique, la gamme d'équipements développée par boostHEAT permet d'apporter au gaz naturel un rendement thermique allant jusqu'à 200%, réduisant ainsi par 2 la facture énergétique.

boostHEAT agit en entreprise responsable : ses chaudières thermodynamiques intègrent l'utilisation d'énergie renouvelable réduisant ainsi la production de gaz à effet de serre de moitié.

Pour plus d'information : www.boostheat.com

Read more about the Future Investment Program

http://www.gouvernement.fr/investissements-d-avenir-cgi

About the PIA (Future Investment Program)

The French government has allocated €47 billion to the Future Investment Program coordinated by the General Industrial Commission (CGI). Since 2010, over €36 billion of funding has been awarded in six areas of future strategic importance for France:

• higher education and training

• research and its exploitation

• industrial modernization

• sustainable development

• digital economy

• healthcare and biotechnology.

About PIAVE (Future Industrial Projects)

The PIAVE call for proposals is aimed at projects falling within the scope of the 9 solutions defined by the French government's New Industrial France scheme.

Two types of project are concerned:

• R&D and industrial scale-up,

• projects aimed at making strategic French industries more competitive.

Projects must benefit a number of independent small to medium-sized businesses and provide tangible and meaningful support to the industry and its structure. They must also involve industrial operations and prove their long-term viability without dependence on state aid.

To be eligible, projects must provide for expenditure of at least €3 million and cover an area showing prospects of future business activity and employment:

• which corresponds to one or more of the New Industrial France solutions, particularly in relation to the implementation of a roadmap approved by the 9 solutions steering committee; in this case, the project must be initiated by a company, regardless of its size. A number of companies, laboratories or research institutions may be grouped together in a consortium;

• which corresponds to one of the objectives of one of the industry strategic committees; alternatively, the project may be initiated by a structure in which a number of companies are associated or by an entity representing the companies operating in the industry (such as a professional federation, EIG, association, etc.).

A budget of €305 million will be allocated to the Future Industrial Project (“PIAVE”) initiative in the form of state aid (grants and repayable advances).

About Bpifrance

Bpifrance is a subsidiary of Caisse des Dépôts et de l'État. It serves as a trusted partner of company founders, providing support to new companies from start-up through to stock market listing by providing loans, guarantees and equity funding. In partnership with Business France, Bpifrance provides extensive guidance and support for innovation, acquisitions and exportation.

Bpifrance provides businesses with continuous financing through all key stages of their development via an offer tailored to regional requirements.

With 47 regional locations (90% of decisions are taken at regional level), Bpifrance is a driver of economic competitiveness serving company founders. Bpifrance supports public policies established by the government and regional councils to achieve three objectives:

• support companies' growth;

• promote future competitiveness;

• contribute towards developing an ecosystem conducive to company foundation.

Bpifrance is a strong, efficient and close contact able to deliver companies' requirements in terms of funding, innovation and investment.

Read more at: www.bpifrance.fr – http://investissementsdavenir.bpifrance.fr/

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