A German utility puts serious capital behind laser fusion. A Japanese carmaker signals where it thinks next-generation EV batteries are heading. And Nvidia backs a London startup making PFAS-free cooling fluid for data centres.
Here are the biggest deals in European impact investing this week.
Focused Energy – $240m Series A
The Darmstadt-based laser fusion company will use the capital to develop a pilot plant at a decommissioned RWE nuclear site in Biblis, Hesse.
Investors: RWE, SPRIND, the EIC Fund, and Prime Movers Lab.
Orbital Industries – $50m Series B
The London startup, formerly Orbital Materials, has rebranded alongside the round and will scale its PFAS-free dielectric cooling fluid and modular compute infrastructure for high-density GPUs.
Investors: Plural (lead), Nvidia's NVentures, Radical Ventures, Compound, and Fly Ventures.
D-CRBN – €17.5m Series A
The Antwerp deeptech firm uses plasma reactors to turn captured carbon dioxide from steel and chemical plants into carbon monoxide and syngas.
Investors: Astaia (lead), SFPIM, and the EIC Fund.
Otrera New Energy – €17m
The Aix-en-Provence-based CEA spin-off is developing a fourth-generation sodium-cooled fast reactor, with a further €40m raise planned before year-end.
Investors: EDF, ADF Group, Onet Technologies, and France 2030 grants.
Elonroad – €8m
The Lund-based electric road charging company is targeting port infrastructure in the US among other new markets, according to CEO Karin Ebbinghaus.
Investors: three undisclosed international investors.
Caudal Energy – €5m seed
The UK tidal power startup uses fin-inspired turbine technology to generate clean energy from tidal flows.
Investors: Oxford Science Enterprises and Empirical Ventures.
Pacifico Biolabs – €7m Series A
The Berlin startup uses biomass fermentation to produce what it says are lower-cost, higher-nutrition seafood substitutes.
Investors: TGFS, FoodLabs, Stray Dog Capital, Simon Capital, and Sprout & About Ventures.
Mykor – €4.7m Series A
The Bristol company makes carbon-negative building insulation from mycelium.
Investors: Clean Growth Fund, FSE Group, and Green Angel Ventures.
Eddy Grid – €7.5m seed
The Utrecht startup is building a distributed network of batteries for smart grid applications.
Investors: Graduate Ventures and Volve Capital.
Solena Materials – €1.5m seed
The London company uses AI to develop protein-based textile fibres as an alternative to synthetic materials.
Investors: The Protein Express.
Borro – €1.3m seed
The Brussels startup runs a cashless deposit-return system for reusable packaging, aimed at reducing single-use packaging waste at point of sale.
Investors: undisclosed.
Pictured: Thomas Forner (Focused Energy); Olivia Page (Mykor); Karin Ebbinghaus (ElonRoad); Sam Rohn (Eddy Grid); Zac Austin (Pacifico Biolabs); Gill Scheltjens (D-CRBN)