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03 Dec 2025

BCTG Avocats Advises Groupe EREN on Investment in Water Horizon as Part of €18 Million Fundraising

"BCTG Avocats advised Groupe EREN on its entry into Water Horizon’s capital as part of a €18 million fundraising. Chammas et Marcheteau advised Water Horizon, Vivien et associés advised Banque des Territoires, and Rostand et Associés advised Delmas Investissement et Participation (DIP). The deal backs Water Horizon's expansion of its Cooling as a Service solutions."

BCTG Avocats advised Groupe EREN, Chammas et Marcheteau advised Water Horizon, Vivien et associés advised the Banque des Territoires and Rostand et Associés advised Delmas Investissement et Participation (DIP) in the transaction. The operation concerns Groupe EREN’s acquisition of a stake in Water Horizon and forms part of a broader €18 million fundraising round. The round also involved the company’s historical shareholders, including the Banque des Territoires — acting for the State under the France 2030 Territoires d’Innovation programme — and Delmas Investissement et Participation (DIP). Proceeds from the financing will enable Water Horizon to accelerate its development in France and internationally and to scale up its Cooling as a Service (CAAS) solutions, which aim to reduce energy costs and the carbon footprint of the industrial and tertiary sectors. Groupe EREN, recognised for its expertise in renewables, storage and energy management, brings critical support to reinforce Water Horizon’s international ambitions. The transaction underscores BCTG Avocats’ involvement in the development of innovative companies. BCTG Avocats represented Groupe EREN with a team composed by: Cyprien Dufournier, partner (Corporate); Pierre de Kerpoisson, associate (Corporate); Catherine Dupuy Burin des Roziers, partner (Projects); Thibaut Magerman, associate (Projects). Chammas et Marcheteau represented Water Horizon with a team composed by: Denis Marcheteau, partner; Romain Penloup, counsel. Vivien et associés represented the Banque des Territoires with a team composed by: Alexandra Arnoult, partner; Pierre Bondu, associate. Rostand et Associés represented Delmas Investissement et Participation (DIP) with a team composed by: Bruno Poulain, partner.
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