The problem Eclipse aims to solve is first and foremost a physical one before it becomes a financial one. Renewable energy sources generate electricity when the sun shines or the wind blows, which does not always coincide with periods of peak demand. Wind turbines are sometimes shut down in the middle of the afternoon because the grid cannot absorb the electricity they produce, and power is wasted due to insufficient storage capacity. According to RTE, nearly 3 TWh of electricity were lost in France in 2025 alone, a figure that doubled year-on-year.
Eclipse has positioned itself as an algorithmic solution to this imbalance. Its technology platform, Flowstream, buys electricity when prices collapse, stores it in batteries, and sells it back when demand pushes prices higher. “We know there are hours when electricity is worth almost nothing and hours when it becomes expensive. Because we can store energy during off-peak periods and resell 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 Backstop, Not Just an Investor
What makes this funding round unique is the nature of the partnership. Alongside Noria, BNP Paribas is investing in the company, but more importantly, it is acting as an offtaker—that is, providing long-term revenue guarantees for battery owners. Until now, this role has largely been played by major energy companies such as Engie, TotalEnergies, and EDF, whose financial standing provided strong reassurance to investors and lenders.
A battery owner able to present a ten-year revenue commitment signed by a company such as Total to their bank has access to financing leverage that Eclipse alone could not yet provide. “Eclipse had the algorithms, but not yet the financial credibility that a large corporation naturally brings to an asset owner seeking to convince their bank,” summarizes Augustin Derville.
The bank, 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 Chief Executive Officer of BNP Paribas and CEO of BNP Paribas CIB, summarized the rationale behind the partnership:
“By combining Eclipse’s expertise in the development and optimization of storage assets with BNP Paribas’ capabilities in financing and structuring, we aim to support the emergence of bankable, resilient, and scalable flexibility infrastructure across Europe.”
The partnership was first announced in February 2026, just weeks before the completion of this funding round.
A Market Reaching Maturity
Eclipse currently manages approximately 5% of its target of 2 gigawatts under management by 2030. While that figure may seem modest, market dynamics are working in its favor. According to Augustin Derville, many battery projects launched two years ago are now reaching the stage where they have secured construction permits and grid connections and are actively seeking optimization and offtake solutions.
“A single contract signed with BNP would double our megawatts under management. Things can move very quickly,” says Derville.
The €20 million funding round, which comes two years after an initial €5.5 million raise backed notably by 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 already looking at Spain as its next expansion market.
