Ecoat secures €21M for low-carbon paints and coatings

Ecoat, a French greentech scaleup, has successfully secured €21M in funding for its mission to decarbonise one of the world’s most carbon-intensive sectors: paints and coatings. This contributes approximately 2 percent of global industrial greenhouse gas emissions.

Ecoat replaces the fossil-derived polymers in paint with bio-based, low-carbon alternatives. This funding round includes €18M in equity investments from Yotta Capital Partners, the European Circular Bioeconomy Fund (ECBF), and Starquest Capital, an investor since 2013.

In addition, Ecoat has received support from the French government’s France 2030 initiative via ADEME. With a debt package backed by Bpifrance and the company’s banking partners, the total investment exceeds €21M.

The company develops high-performance, water-based and bio-based binders that replace fossil-based polymers in decorative, wood, and metal paints. The funding will support Ecoat’s expansion into international markets and its ongoing commitment to sustainability by scaling production, expanding the R&D team, operations, and commercial development.

“This marks a turning point for Ecoat. With the support of our new partners, we’re ready to scale fast—expanding production, accelerating R&D, and going global—all while staying true to our mission: making sustainable coatings the industry standard. We’re proud to be a European leader already—and now, we’re stepping into the US and Asian markets to take this impact to the next level,” said Olivier Choulet, CEO of Ecoat.

“With its investment in Ecoat, Yotta is proud to finance through its Growth Fund Yotta Growth Industry a French leading industrial SME which brings to the market innovative and cost-competitive low-carbon solutions to accelerate the decarbonization of the paint & coating industry.

"We will work alongside Ecoat’s management and our co-investors to help accelerate its growth and its positive impact on the environment,” added Nadia Bouzigues, Managing Partner at Yotta Capital Partners. 

“As an investor committed to advancing circular bioeconomy, we at ECBF are proud to support the expansion strategy of Ecoat, a technology leader with a clear commitment to sustainability and circularity. Ecoat’s unique bio-based solutions have already proven their potential in the cost-efficient de-fossilization of paints and coatings,” added Michael Nettersheim, General Partner at ECBF. 

Photo by Joseph Pérez