Arverne Group Announces the Success of the Series B2 of Lithium de France for € 40M, with its Partner Equinor Ventures
Arverne Group (ISIN code: FR001400JWR8, ticker symbol ARVEN) 1st French leader of geothermal solutions, completes Series B2 financing for its subsidiary Lithium de France.
The capital increase, taking place in September was subscribed by Arverne Group and Equinor Ventures for €40 million. Following this transaction, Arverne Group will now hold 64.58% of Lithium de France’s capital, and Equinor Ventures will hold 24.40%1. This funding comes as Lithium de France’s project has entered the pre-industrial phase, with the first drilling operations, the Direct Lithium Extraction (DLE) demo plant and the Front-end engineering Design (FEED), an integral part of the Definitive Feasibility Study (DFS).
Pierre Brossollet, founder and CEO of Arverne Group said:
This equity financing is a key step in Lithium de France, whose mission is to accelerate the energy transition for the prosperity of the regions.
“Lithium is one of the critical metals essential to meeting the expected growth in electric vehicles and battery energy storage. I am delighted with the renewed support from Equinor, whose expertise in subsurface and project execution will be decisive advantages.”
Lisa Rebora, Head of Global Lithium in Equinor adds:
Equinor is pleased to continue our strategic partnership with Lithium de France and we reiterate our confidence in the company by continued investments through our capital venture arm. We look forward to working with Lithium de France to mature another supply chain by deploying Direct Lithium Technology.”
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Arverne Group Announces the Success of the Series B2 of Lithium de France for € 40M, with its Partner Equinor Ventures, source
