The problem Eclipse aims to solve is physical before it is financial. Renewable energy sources generate electricity when the sun shines or the wind blows, which does not always coincide with peak demand. Wind turbines are sometimes forced to shut down in the middle of the afternoon because the grid cannot absorb all the electricity they produce, while excess power is wasted due to insufficient storage capacity. In 2025 alone, according to RTE, nearly 3 TWh of electricity was lost in France under such circumstances—double the amount recorded a year earlier.

Eclipse has positioned itself as the algorithmic solution to this imbalance. Its technology platform, Flowstream, purchases electricity when prices collapse, stores it in batteries, and resells it when demand drives prices back up. “We know there are hours when electricity is worth virtually nothing and hours when it becomes expensive. Since we can store energy during off-peak periods and sell it during peak demand, we can generate profits on a daily basis,” explains Augustin Derville, Co-Founder and CEO of Eclipse.

BNP Paribas as a Guarantor, Not Just an Investor

What makes this funding round distinctive is the nature of the partnership. Alongside Noria, BNP Paribas is not only taking an equity stake but also acting as an offtaker—that is, providing long-term revenue guarantees for battery owners. Until now, this role had largely been filled by major energy companies such as Engie, TotalEnergies, and EDF, whose financial standing gave projects significant credibility.

A battery owner able to present a bank with a ten-year revenue commitment signed by a company like Total gains access to financing opportunities that Eclipse alone could not yet provide. “Eclipse had mastered the algorithms, but not yet the financial credibility that a large corporation naturally brings to an asset owner seeking to convince a lender,” Derville summarizes.

BNP Paribas, which has been trading electricity on European markets for more than twenty years, contributes that credibility. In return, Eclipse provides the optimization algorithms. Olivier Osty, Deputy CEO of BNP Paribas and CEO of BNP Paribas CIB, summarized the partnership as follows: “By combining Eclipse’s expertise in the development and optimization of energy storage assets with BNP Paribas’ capabilities in financing and structuring, we aim to support the emergence of bankable, robust, and scalable flexibility infrastructure across Europe.”

The partnership was first announced in February 2026, just weeks before the close of this funding round.

A Market Reaching Maturity

Today, Eclipse manages approximately 5% of its target of 2 gigawatts under management by 2030. While that figure may seem modest, market momentum is working in its favor. According to Derville, many battery projects launched two years ago are now reaching a stage where construction permits and grid connections have been secured, creating demand for optimization and offtake solutions.

“A single contract signed with BNP would double our megawatt portfolio. Things can move very quickly,” says Derville.

The €20 million funding round, which follows an initial €5.5 million raise two years ago from investors including Wind Capital, will finance the deployment of Eclipse’s first proprietary storage projects, the continued development of Flowstream, and the expansion of its offtake offerings across Europe.

The company, which employs around twenty people, currently operates in France and Belgium and is actively considering Spain as its next market for expansion.