Ecoat, a French green-tech scale-up based in Grasse, has successfully raised €21 million to further its mission within the coatings and paints sector, which contributes to 2% of global industrial greenhouse gas emissions. Securing €18 million in equity funding from notable investors including Yotta Capital and support from the French government's France 2030 plan, Ecoat aims to scale production of bio-based binders to address environmental concerns. The funding is designated for expansion into new markets, primarily focusing on international growth in Europe, the US, and Asia, while enhancing production capabilities and product development.
Ecoat will use the funds to scale production to 30,000 tons of bio-based binders at its Roussillon plant.
This new round marks a new chapter: one of international growth, especially in the US market, to maximise the decarbonisation impact in the global building industry.
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