Solar power takes off for Enerfox – Le Journal des Entreprises – Maine-et-Loire
From its Laval offices, Enerfox is completing a fundraising campaign at the end of April that will exceed 500,000 euros. The start-up has gone from a turnover of 100,000 euros in 2022 to 350,000 euros for the financial year ending in March 2023, and it expects to exceed one million euros in a year. Founded in 2018 by four partners, it had six employees until September 2021. A year and a half later, the company has reached fifteen people and will hire three more.
This company designs and markets solutions for monitoring, analyzing and optimizing energy consumption based on local production, mainly photovoltaic electricity. Thanks to its software, Enerfox provides, among other things, a follow-up to client companies that consume the electricity they produce. These save money, in particular by managing their industrial activity according to the weather.
Self-consumption is soaring
The bet of self-consumption, defended by Enerfox, is paying off. “There is an upheaval,” explains Nicolas Samon, commercial director who has become the fifth partner. “The cost of producing renewable electricity, in particular the price of panels, has been divided by ten in ten years. The cost of energy purchased from the grid has increased. We had a pivot in 2022. The curves crossed, and the trend is accelerating. The self-consumption model has become relevant.“Of the 2.7 gigawatt/hour (GWh) of electricity produced by Enerfox customers, 2.2 were self-consumed. “Before 2022, solar growth was maintained thanks to CSR and carbon footprint policies businesses. Since then, it has accelerated because companies need to maintain their production tool at a lower cost.”
With its fundraising, Enerfox will be able to finance its additional recruitments, in marketing and communication. Rooted in the Great West, the activity is now deployed nationally, particularly in the South thanks to two sales representatives. This month of April, “we are opening the northeast quarter to trade”, announces President Didier Bailleau. A person has just been recruited.
“The fundraising also brings us a reinforcement of our own funds, making it possible to finance R & D”, continues the president. For example, the start-up has just filed a patent in February 2023, which relates to the recognition of the electrical signature of industrial equipment. She plans to finance a thesis from September to work on a new patent.
In addition, Enerfox forges industrial partnerships with equipment manufacturers, whose tests involve shared financial participation. Thus, discussions and tests are underway with industrial SMEs in various sectors (printing, agri-food, wind power) so that they can integrate Enerfox solutions as a white label. Laval residents will be involved in the Veolia project selected for the future Laval/Changé drinking water plant (a 40 million euro project). Another important partnership is in the finalization phase for a GRDF call for projects for a methanisation unit.
At the same time, Enerfox is increasing partnerships with broadcasters. It is distributed by national groups (Larivière and Rexel), but also regional companies (Imaginelec). “We are mounting more and more joint actions with Rexel. For example, we have just taken part in two trade shows where they had invited us”. Discussions are underway with another national distributor.