Bpifrance Takes Stake in Arverne Group for Geothermal Growth

Arverne Group, a French company specializing in renewable underground resources, announced that Bpifrance has acquired a 4.29% stake in its capital. This acquisition involves 1,709,740 existing shares and grants Bpifrance 4.91% of the voting rights. A Bpifrance representative will join Arverne's Board of Directors, initially as a censor and then as a director.

This investment aligns with Bpifrance's strategy to support ecological and energy transition, focusing on France's reindustrialization. Arverne is a key player in the geothermal sector, offering geothermal heating and a novel method for extracting lithium from Alsatian brines, both crucial for the battery industry.

Arverne aims to reach an annual production capacity of 4 TWh of geothermal heat and 27,000 tons of geothermal lithium by 2031.