e‑peas, a Louvain-la-Neuve, Belgium-based provider of ultra-low-power energy harvesting and power management systems, said it has successfully closed $22 million in financing. The investment will be used to help the company accelerate its expansion into the global ambient IoT market, the company said.

The financing will enable e-peas to rapidly scale its commercial growth, expand into new international markets, and diversify its product offering to meet the explosive demand for sustainable, battery-independent electronic systems, e-peas said. As part of this financing round, e‑peas said it also took the opportunity to streamline its shareholder structure.

With a focus on power efficiency, e-peas has a portfolio of ultra‑low power management products designed to enable electronic devices to operate autonomously from ambient energy sources including light, RF, vibration, and heat. Its ultra-low-power semiconductor technology aims to allow industrial and IoT device designers to significantly extend battery lifespans and eliminate costly battery replacements without compromising reliability.

e-peas systems power high‑volume applications, including solar-powered remote controls, HVAC systems, cameras, and smart tracking devices, for global companies. In these applications, this approach looks to extend system life and eliminate the operational costs and environmental damage of using disposable batteries. By reducing or eliminating battery replacement, the company said its goal is to help lower electronic waste and total cost of ownership while supporting sustainability objectives for OEMs and end users.

The financing has been led by Crédit Mutuel Innovation, with the support of its Belgian branch, alongside SFPI, the Belgian federal fund. The capital raise also included the continued support of e‑peas’ historic investors including the European Innovation Council (EIC) as well as Wallonie Entreprendre, KBC Focus Fund, Otium, Nomainvest, The Faktory, and Invest BW.

“This new investment is a strong endorsement of e‑peas’ technology, strategy, and market traction,” said Geoffroy Gosset, CEO of e‑peas. “It will allow us to further scale our commercial activities, enter new high-growth markets, and expand our portfolio to support a wider range of energy-autonomous applications. Our ambition is to make energy harvesting a standard design choice for sustainable electronics.”

Alexis Riou, representing lead investor Credit Mutuel Innovation, added: “Supporting e‑peas allows us to contribute reshaping the future of IoT, making it more scalable and sustainable. The IoT market is booming, and e‑peas is set to become the undisputed leader in energy harvesting, offering the best solution out there.”

Credit Mutuel decided to back e-peas not only to drive IoT growth but also to slash its carbon footprint, Riou added. “It’s a unique opportunity to create value while making a real, positive environmental impact.”

Alan Vandenberghe, investment manager of SFPIM said, “This investment supports the emergence of Belgian deep-tech champions in critical technologies to the energy transition. e‑peas is one of the types of actors we want to support, a company with differentiated technological expertise in semiconductors, addressing a market undergoing structural transformation.”

e-peas also has offices in Switzerland and the USA.