SUEZ, a global leader in circular and digital solutions for water and waste, announced its acquisition of stakes in the innovative North American companies Airex Energy and Subeca, amounting to 8 million euros.
These two investments in support of climate change adaptation and mitigation reinforce SUEZ’ innovation dynamic, which aligns with the Group’s open innovation policy.
SUEZ reasserts its stance in carbon sequestration through the acquisition of a stake in a Canadian company, Airex Energy.
In July 2023, SUEZ, Airex Energy, and Groupe Rémabec announced the creation of the joint venture Carbonity to build Canada’s first biochar plant in Port-Cartier (Quebec).
Biochar offers several benefits, including carbon sequestration, increased nutrient retention, optimized water availability, and soil aeration, and was identified by the IPCC as one of the five most efficient negative-emission solutions.
SUEZ’ arrival as a shareholder of Airex Energy illustrates the two firms’ desire to deepen their collaboration and aligns with the low-carbon goals set out in SUEZ’ sustainable development roadmap.
The two companies intend to develop annual production capacity of more than 350,000 tonnes of global biochar from agricultural and forest biomass resources, contributing to the 2050 net zero target.
SUEZ Invests in WaterTech in the United States
SUEZ has invested in Subeca, an Internet of Things (IoT) specialist based in Dallas, Texas, that develops smart water metering solutions compatible with Amazon Sidewalk.Subeca’s IoT solution enables the simple and cost-efficient deployment of advanced metering infrastructure (AMI), an essential tool to help reduce water consumption and preserve resources by up to 16% through leak detection and use monitoring.
Subeca’s technology could enable more than 40,000 water utilities and private companies in the US, currently locked out of advanced metering, to gain access to remote water meter reading and effectively monitor their consumption.
SUEZ bought into a series A investment round that also included the Amazon Climate Pledge Fund and Burnt Island Ventures, a leading venture capitalist in the water sector.
As one of the leading smart water metering solution providers with more than six million units deployed globally, SUEZ intends to leverage its expertise to support Subeca in scaling up its propositions and in its go-to-market strategy in the vast global digital marketplace for the water sector.
Amazon Sidewalk is a Low Power Wide Area Network (LPWAN) provided by Amazon in the United States, connecting with the millions of Amazon consumer devices installed in American households.
Open Innovation: Fostering Synergies between SUEZ and Startups in the Water and Waste Sectors
These new investments are part of SUEZ’s drive to increase resources dedicated to innovation, with a 50% rise in the budget for R&D and innovation between 2022 and 2027.
The investments bring the total amount invested since 2010 by the SUEZ Ventures fund dedicated to startups to 80 million euros, with nearly 55% of direct investment going into startups in France and 45% into startups specializing in digital tech.
These equity investments reflect SUEZ’s open innovation approach. Through its corporate venture activity, SUEZ develops synergies with innovative SMEs and startups worldwide to support their growth and draw on complementary expertise in the water, waste, decarbonation, and digital sectors.
Resource preservation and carbon capture and storage can play a key role in addressing the challenges of climate change. SUEZ is pleased to support the developments of Airex Energy and Subeca, as these investments reinforce the company’s presence in North America and open up avenues for various synergies.
Acquiring a stake in these firms demonstrates SUEZ’s desire to incorporate complementary technologies into its value chain to provide its clients with ever more resilient and innovative solutions in water and waste services.
“Resource preservation and carbon capture and storage can play a key role in rising to the challenges of climate change. We are pleased to support the developments of Airex Energy and Subeca. These investments reinforce our presence in North America and open up avenues for various synergies.
Acquiring a stake in these firms offers evidence of SUEZ’s desire to incorporate complementary technologies into its value chain to provide its clients with ever more resilient and innovative solutions in water and waste services,” said Sabrina Soussan, Chairman and CEO of SUEZ.
Source : SUEZ Group
