France-based BeFC, a company that invented ecological biofuel cells that are paper-based, ultra-thin, and flexible, announced that it has raised €16M in a Series A round of funding.
The round was supported by Avolta Partners as the sole financial advisor. Otium Capital was the new lead investor in this round and was supported by existing investors Demeter, BNP Paribas Développement, and Supernova Invest.
Inspired by implantable technologies, BeFC energy is created using biocatalysts that convert natural biofuels (glucose and oxygen) into electricity. Any fluid, such as environmental or biological fluids, can be used to activate the fuel cells.
BeFC claims that its fuel cells do not contain toxic or polluting chemicals and they do not interfere with existing recycling processes.
From industrial logistics to population health, BeFC technologies and services enable the installation of a digital interface using an active sensing platform to secure supply chains, optimize workload, and improve safety. This is accomplished while lowering both the cost and the environmental effect.
BeFC technology is appropriate for low-power applications such as those in which sensor data is gathered and processed sporadically using wireless protocols. Microprocessors and low-energy wireless communications (LoRa, Bluetooth, WiFi, etc.) can both be powered by BeFC products.
In addition to enabling the replacement of batteries for current applications, BeFC believes this strategy will provide new possibilities for the Internet of Things (IoT), low-power ultra-thin health monitoring, and monitoring applications for logistics and transportation.
BeFC says the current funding will help the company to move towards industrialization.
The money will help the company to carry out its aim of producing low-cost, low-impact electronics by solidifying its strategy and pushing its growth trajectory towards mass manufacturing.
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