Elax Énergie raises €30m to expand connected hot-water systems
Noria and a Crédit Mutuel Impact-managed fund are backing expansion into installer-led household sales and collective boiler rooms.
Elax Énergie has raised €30 million from Noria and the Fonds Révolution Environnementale et Solidaire, managed by Crédit Mutuel Impact. Noria reported the financing in September 2026, ahead of October announcements about the company’s next stage of deployment.
The Paris company connects and remotely controls electric water heaters to reduce energy use and shift heating toward periods of plentiful electricity. It reports nearly 100,000 homes equipped, mainly through social-housing providers.
The capital will support further deployment with housing providers, the launch of Elax Pro for professional installers and expansion into collective boiler-room electrification. Elax also plans to hire 30 additional staff by the end of 2027, including in engineering, operations and commercial roles.
Use of funds
Expand social-housing deployments
Launch Elax Pro installer network
Develop collective boiler-room electrification
Hire 30 additional staff by the end of 2027