Biosyl raised funding from Omnes, 123 IM, SOFIMAC and Unisylva.
Biosyl, a Paris, France-based manufacturer of wood pellets, announced that it secured a combination of debt and equity funding in the company.
The equity was raised from existing investors, all from France, including Omnes, 123 IM, SOFIMAC as well as the forestry cooperative Unisylva. The company founder also contributed to the round.
Debt was provided by BPI and a banking consortium led by BNP Paribas, comprising La Banque Postale, HSBC, Banque Populaire Bourgogne and Banque Populaire Auvergne.
Biosyl, founded in 2010 and led by Antoine de Cockborne, transforms wood waste and residues from sustainably managed forests into energy with low CO2 emissions. Biosyl adds value to wood chips and saw-mill waste by producing wood pellets for domestic stoves and pellet boilers out of a 12 hectares of land located in Nièvre.
Biosyl is the main producer in this local market, and one of the five largest manufacturers in France, with an EUR18.5 million turnover.