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ENOGIA - Signature of an agreement between ADEME Investissement and ENOGIA: creation of a joint venture, ENOGIA Assets Industry

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ENOGIA
ENOGIA - Signature of an agreement between ADEME Investissement and ENOGIA: creation of a joint venture, ENOGIA Assets Industry

10-Jun-2022 / 18:00 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Signature of an agreement between ADEME Investissement and ENOGIA: creation of a joint venture, ENOGIA Assets Industry

Investments of up to €15 million in ENOGIA ORCs over 5 years

Acceleration of the rollout of the economy-of-use model for ENOGIA’s ORC segment

Marseille, 10 June 2022– 6.00 p.m.

 

 

ENOGIA and ADEME Investissement announce the signing of an agreement for the creation of a joint venture, ENOGIA Assets Industry, aimed at rolling out ENOGIA ORCs.

 

 

ENOGIA, the French leader in the conversion of waste heat into electricity, and ADEME Investissement, ADEME’s public sector equity financing tool with a budget of €400 million from the French government’s Investment for the Future programme, now part of France 2030, have signed an agreement to roll out ENOGIA’s ORC modules via the economy-of-use model in the geothermal, biomass and industrial segments, in nearly 40 countries.[1]

 

The agreement provides for the creation of a joint venture, ENOGIA Assets Industry, 55% owned by ENOGIA and 45% by ADEME Investissement. ENOGIA Assets Industry has total potential investment capacity of €15 million over five years. ENOGIA and ADEME Investissement undertake to finance ENOGIA Assets Industry in line with their respective investment in its capital, and as it grows commercially.

 

ENOGIA Assets Industry will provide its customers with ENOGIA ORCs under contracts covering a minimum of eight years. These contracts do not entail any investments or direct costs for customers, allowing them to benefit, as soon as the ORC is installed, from the value it generates via the electricity it produces, either consuming or selling it.

 

ENOGIA will lead the project’s operations; it will sell the ORCs to ENOGIA Assets Industry and will be responsible for their installation, commissioning and maintenance.

 

The agreement aims to accelerate the rollout of ENOGIA’s ORC technology, which combines clean energy production, energy efficiency and waste heat recovery, against a backdrop of rising energy prices.

 

 

 

Arthur Leroux, ENOGIA Chairman and CEO, said: “The agreement signed with ADEME Investissement is another big step forward for ENOGIA. We are honoured to be partnering with this leading public sector player, which shares our goal of supporting the energy transition. A few months ago, Eiffel Gaz Vert gave us its support for the rollout of the economy-of-use model in the biogas sector in France and Germany. With ADEME Investissement, we are rounding out the geographical and sector coverage of our economy-of-use model. Together with all of ENOGIA’s employees, we are proud to be actively participating in the production of carbon-free energy.”

 

Karine MÉRÈRE, ADEME Investissement CEO, said: “The recovery of industrial waste heat is a means for achieving carbon neutrality. It is also a competitive challenge for industry at a time of rising energy costs. ADEME Investissement, the financing tool of the Investment for the Future programme, is very pleased to be supporting the commercial rollout of ENOGIA’s ORC technology through the ENOGIA Assets Industry joint venture. The economy-of-use model should allow ENOGIA to convince industrial customers to adopt its ORC modules more quickly.”

 

 

 

About ENOGIA

ENOGIA ENOGIA responds to the major challenges of the ecological and energy transition with its unique and patented technology of compact, light and durable micro-turbomachinery. As the French leader in heat-to-electricity conversion with its wide range of ORC modules, ENOGIA enables its customers to produce decarbonised electricity and to recover waste or renewable heat. Since 2020, ENOGIA has also been marketing air compressors for Hydrogen Fuel Cells, thereby contributing to the development of hydrogen mobility, a booming market. With sales in more than 25 countries, ENOGIA continues to prospect for new customers in France and internationally. Founded in 2009 and based in Marseille, ENOGIA has nearly 50 employees involved in the design, production and marketing of environmentally friendly technological solutions. ENOGIA’s CSR commitment represents an “Advanced” level of performance according to EthiFinance.

ENOGIA is listed on Euronext Growth Paris.

Ticker: ALENO. ISIN code: FR0014004974. LEI: 969500IANLNITRI3R653

Contacts ENOGIA

Investor relations and financial media – enogia-investir.fr – 01 53 45 80 59/06 65 15 83 58

Communication and corporate press – sylvie.bourdon@enogia.com – 06 18 43 90 12

 

 

About ADEME Investissement

ADEME Investissement was created in December 2018 as part of the Investment for the Future programme and has now been merged into France 2030, led by the General Secretariat for Investment. The company, which is 100% state owned, provides equity funding for innovative infrastructure projects in the field of energy and ecological transition alongside private players. Its purpose is to overcome the financing difficulties faced by “first commercial” units. It has a budget of €400 million.

To find out more, visit: https://www.ademe-investissement.fr/    

 

 


About France 2030

The France 2030 investment plan

  • Reflects a twofold goal: sustainably transform key sectors of our economy (energy, automotive, aerospace) through technological innovation, and position France not just as a player, but as a leader in the world of tomorrow. From fundamental research to the emergence of an idea, or the creation of a new product or service, France 2030 provides support over the entire life cycle of innovation up to its adoption by industry.

  • Is unprecedented in its scope: €54 billion will be invested to ensure that our companies, universities and research organisations can make a success of their transition in these strategic sectors. The challenge is to enable them to respond competitively to the ecological and attractiveness challenges of the world to come, and to allow future champions to emerge in our fields of excellence. France 2030 has two cross-cutting objectives: it devotes 50% of its funds to decarbonising the economy, and 50% to supporting emerging players promoting innovation without spending unfavourable to the environment (in keeping with the Do No Significant Harm principle).

  • Will be implemented collectively: the plan’s design and rollout involve consultation with economic, academic, local and European stakeholders to determine strategic focuses and key initiatives. Project leaders can submit their applications for government support via open, demanding and selective procedures.

  • It is managed by the General Secretariat for Investment on behalf of the Prime Minister.

To find out more, visit: www.gouvernement.fr/secretariat-general-pour-l-investissement-sgpi

 

 

[1] The agreement primarily covers OECD member countries. It does not cover anaerobic digestion/biogas projects in France, Germany or Poland, as this project category is already covered by a previous agreement signed by ENOGIA (see ENOGIA’s press release dated 22 December 2021).

Regulatory filing PDF file

File: Signature of an agreement between ADEME Investissement and ENOGIA: creation of a joint venture, ENOGIA Assets Industry

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