Saint-Nazaire, June 2016.
With purpose to speed up both R & D development and export expansion, the French startup dedicated to innovative solutions for energy autonomy at sea, has just completed EUR 1 million private fundraising. This operation completes a EUR 1 million grants and loans allocated by Bpifrance.
The overall operation includes an equity increase by GEPS Innov holding company supported by 60 individual shareholders, plus a quasi-equity contribution of STX France (historical industrial partner from GEPS Techno since its creation) and an additional bank financing with BNP Paribas and Credit Mutuel as well as a first payment of grants and loans from Bpifrance for IHES R&D program support.
To continue its growth, GEPS Techno is now considering a new operation to raise a EUR 2 million amount before mid-2017, an operation for which contacts with VC funds and private investors are already underway.
Commercial development of the two first product lines “autonomous power platform” and “ship and marine platform stabilization” has speed up in recent months, mainly on the French market.
This business development job resulted in new orders from Ifremer and the University of Caen in the field of autonomous low-power platforms, and with Bureau Mauric and Piriou for ships stabilizers. Many offers have been made since early 2016 and are currently in discussion with customers.
After these first commercial success on the French market, GEPS Techno is launching a strong business development action for export. An Executive Sales Manager with extensive experience in the marketing of innovative products on international market has joined the team to contribute to this development and achieve a EUR 2 million turnover at the end of this year, that is 10 times of current turnover.