The Paris-based Electronova Capital fund has invested €5 million in Techniwood, a French company specialising in environmentally friendly construction using wood.
The fund, which has been earmarked for clean technology companies, is intended to accelerate growth in Techniwood, which was founded in 2010. It says it uses ethically sourced timber from forests that leave a relatively low carbon footprint in its products.
Electonova Capital is managed by mid-market private equity firm Idinvest Partners. The fund, which is strategically backed by EDF, also counts wastewater company Organica Water and offshore wind-focused company Seatower amongst its investments.
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