Elax Énergie Secures €30 Million to Make Water Heaters More Energy-Efficient

Elax Énergie has secured €30 million in funding. The Paris-based startup announced the investment from Noria and Crédit Mutuel Impact. Maddyness reported the story. Elax Énergie has developed a technology to reduce the electrical consumption of water heaters. The startup was founded in 2020 and sells a smart box that adjusts heating cycles based on the household's hot water usage. This device prevents unnecessary water heating and shifts some operating periods without disrupting the occupants' daily routines. Elax Énergie claims this technology can reduce electrical consumption for water heating by 20 to 25 percent. The startup has primarily worked with social housing providers, collaborating with over 100 of them and equipping nearly 100,000 homes.

This initial deployment allows Elax Énergie to consider a much larger market. Elax Énergie plans to use the €30 million to expand its reach. The startup intends to launch Elax Pro, a network of about 100 artisans including plumbers, electricians, and heating engineers. These professionals will offer and install the technology directly in homes, aiming to equip as many of the 15 million water heaters in France as possible. The cost for individual consumers has not yet been disclosed. Elax Énergie also aims to enter the collective boiler market. The company is developing a solution to replace some of the gas used for heat production with electricity. Elax Énergie believes this technology could electrify up to 50 percent of the heat production in certain installations.

These new activities align with a broader goal: adapting electrical consumption to the fluctuations in renewable energy production. By shifting the operation of thousands of water heaters, the startup seeks to absorb some of the excess electricity generated by solar and wind installations. Elax Énergie currently employs about 50 people and plans to hire 30 more by the end of 2027. These new hires will primarily focus on research and development, engineering, operations, and commercial development.