Newheat secures €30m fundraise, France.

Renewable heating firm Newheat has raised €30 million ($32.8m) in funding, with new shareholder SWEN Capital Partners participating through its SWIFT II strategy. Newheat aims to become a European leader in renewable heat generation for district heating and industrial sectors, focusing on decarbonization. The company plans to invest the majority of the funds in power plant projects, with the goal of investing €150 million in 15 new projects within three years and achieving €1 billion in installed capacity by 2030. Newheat has already deployed five plants in France and has announced plans to expand into waste heat recovery, solar thermal energy, heat storage, industrial heat pumps, and biomass and biogas combustion. [Extracted from the article]