Water Horizon, founded in 2017 and based in Cugnaux, develops a mobile thermal battery that captures and stores industrial waste heat to generate on-demand cooling for industrial and commercial clients. Marketed under a “Cooling as a Service” offer, the solution targets Europe’s 550 TWh cooling market, which is projected to exceed 800 TWh by 2050, providing a lower-cost and lower-carbon alternative to conventional refrigeration systems that rely on electricity and high-GWP refrigerants. The company employs about 30 people and works closely with Delmas Investissements et Participations and its Africa Power Services unit to deploy hybrid thermal-solar plants in high-growth African markets. Strategic partner Eren Group brings expertise in low-carbon production, energy storage, and waste-heat recovery to accelerate international rollout. Water Horizon previously raised €5 million in 2022 and secured early backing from Irdi Capital Investissement in 2018. Although revenue figures have not been disclosed, the new capital positions the company to scale manufacturing and expand its service footprint.

Total raised

$21M

Funding rounds

1

Latest round

Series B

Latest activity

Nov 2025