Arverne's €70M Geothermal Gambit: A New Blueprint for Energy Sovereignty

PAU, France – June 16, 2026 – In a move that signals a major inflection point for Europe's renewable energy sector, French geothermal leader Arverne has unveiled a sophisticated €70 million financing strategy. The plan, orchestrated by founder and CEO Pierre Brossollet, not only reinforces his control over the company but also brings in a powerful new partner, RGREEN INVEST, to accelerate the firm's ambitious growth plans. This deal is more than just a capital injection; it's a meticulously crafted blueprint for scaling a critical energy technology at a time when energy sovereignty and decarbonization have become paramount strategic imperatives.

A Partnership Forged in the Energy Transition

At the heart of the transaction is a strategic realignment of Arverne's capital structure. Pierre Brossollet, the company’s founder, is set to strengthen his position as the principal shareholder. This will be achieved through a newly formed joint holding company, Geogreen, which will be co-owned by Brossollet’s family holding company and INFRAGREEN V, a fund managed by the specialist asset manager RGREEN INVEST. Brossollet will contribute his existing shares to Geogreen while retaining majority ownership, ensuring his long-term vision continues to guide the company.

The entrance of RGREEN INVEST is a significant endorsement of Arverne's potential. As an asset manager with over €3.4 billion managed since its inception and a portfolio of 5,000 projects, RGREEN INVEST specializes in financing the infrastructure of the energy transition. Their decision to partner with Arverne, committing to a €37 million investment through Geogreen, underscores the growing conviction among institutional investors that geothermal is a cornerstone of a resilient, decarbonized energy mix.

"Through this investment project, we reaffirm our conviction that geothermal energy has a strategic role to play in building a competitive, resilient and decarbonized French energy mix," stated Nicolas Rochon, Founder and Chairman of RGREEN INVEST. The partnership also grants RGREEN INVEST a seat on Arverne's Board of Directors, allowing them to provide direct strategic input.

For Brossollet, the deal secures the financial firepower needed for Arverne's next chapter while aligning with a partner who shares the company's mission. "I am personally very proud of this partnership project with RGREEN INVEST, a trusted partner and recognized expert investor, which would provide Arverne with additional financial resources to support its growth," he commented. The move also facilitates a lucrative exit for some long-standing minority shareholders, who will realize a "significant capital gain"—a testament to Arverne's successful growth trajectory to date.

Innovative Financing for Accelerated Growth

The financial engine for this strategic acceleration is a €70 million ORANE issuance. ORANE, which stands for Obligation Remboursable en Actions Nouvelles ou Existantes, is a hybrid financial instrument common in the French market that combines features of both debt and equity. Unlike a traditional bond repaid in cash, an ORANE gives the issuer the flexibility to repay the obligation by delivering new or existing shares.

For a growth-focused company like Arverne, this structure is highly advantageous. It provides immediate access to capital for its ambitious 'Dual Flow' strategic plan without the pressure of a looming cash repayment. By potentially converting debt to equity, the company can strengthen its balance sheet and reduce leverage, creating a more robust financial foundation for long-term projects. Geogreen will anchor the issuance as the lead subscriber with its €37 million investment. The remaining capital will be provided by a consortium of committed existing investors, including French public investment bank Bpifrance, Eiffel Essentiel, ADEME Investissement, and Crédit Mutuel Equity, signaling broad and deep confidence in Arverne's strategy.

This sophisticated financing mechanism is perfectly suited to the long-cycle nature of geothermal development, providing patient capital that is aligned with the company's long-term value creation goals. It allows Arverne to invest aggressively in its project pipeline while managing dilution and its financial structure with precision.

The 'Dual Flow' Strategy: Tapping the Earth for Heat and Lithium

The €70 million infusion is specifically earmarked to finance Arverne's 'Dual Flow' strategic plan, a roadmap designed to solidify its leadership in two distinct but complementary geothermal applications. The first "flow" is the expansion of its core business: developing deep geothermal projects that provide renewable, baseload heat for district heating networks and industrial clients. This directly addresses France and Europe's goals, outlined in policies like the EU's REPowerEU plan, to reduce reliance on volatile fossil fuel imports and decarbonize the heating and cooling sector, which accounts for a massive portion of energy consumption.

The second, and arguably more disruptive, "flow" is the pioneering of geothermal lithium extraction. Arverne's subsidiary, Lithium de France, is at the forefront of developing techniques to extract lithium—a critical raw material for electric vehicle batteries—from the same geothermal brines used for heat production. This creates a powerful synergy, turning a single natural resource into two high-value, sustainable products. Recent results from the company's first geothermal well were reported to have exceeded expectations, and a recent partnership with Equinor Ventures further validates the technological and commercial promise of this venture.

By pursuing this dual strategy, Arverne is positioning itself not just as an energy company, but as a key enabler of two of the 21st century's most critical industrial transitions: the shift to renewable energy and the electrification of transport. This move to harness a domestic source of lithium is of immense strategic importance for Europe, which is currently almost entirely dependent on imports for the critical mineral. Brossollet's reinforced leadership and the new capital ensure Arverne has the stability and resources to execute this complex, long-term vision, solidifying its role as a key industrial player in France's pursuit of a more sovereign and sustainable future.