French geothermal consultancy CFG acquired by Energys
CFG maintenance at the geothermal site (source: CFG)
The French group E’nergys, which focuses on sustainable development, energy, water management and digital technology, acquires a stake in the French geothermal consultancy CFG.
The French energy solutions and services company E’nergys, which was announced in mid-March 2021, is acquiring a stake in CFG, a subsidiary of the BRGM Group (French Geological Survey), in order to strengthen its role in the energy transition towards geothermal energy and water.
E’nergys acquired 30% of the shares in CFG – Compagnie Française de Géothermie (CFG), owned by SAGEOS (a wholly owned subsidiary of BRGM).
By 2030, geothermal energy, a local energy available around the clock and carbon-free, should be part of the French energy mix. In light of this observation, the accelerator of the B2B energy transition, E’nergys, which is based on the financial base of the ETI of the SOCOMEC family, has just acquired 30% of the capital of CFG, a specialist in geothermal energy for production. Heat and electricity owned by SAGEOS (a wholly owned subsidiary of BRGM).
The specialist in industrial geothermal energy, CFG – Compagnie Française de Géothermie – enters the ecosystem of professions “know-how” and energy efficiency. This operation is part of a joint effort by the two companies to develop geothermal energy in France and Europe in order to accelerate changes in the energy production and consumption patterns of local authorities, manufacturers and service sector actors in times of energy transition.
A first step in a “long-term” collaboration
Under the terms of the agreement signed in January 2021, E’nergys will acquire 30% of CFG’s capital held by SAGEOS, a subsidiary of BRGM, a public geosciences benchmark institution, and offer an additional purchase option within 18 months Become a majority shareholder.
CFG was founded in 1985 and is based in Orléans. The company is an expert in industrial geothermal energy for the production of heat and electricity in France and internationally, ie in more than 40 countries. The company has a pool of expertise in deep and shallow geothermal energy, hydrogeology, drilling, geochemistry and corrosion. It represents a workforce of 20 employees and a turnover of around 4 million euros.
This operation fits into the role of BRGM, the French national geological service, through its subsidiary SAGEOS, to maintain and open up new development prospects for a French geoscientific “nugget” like CFG by supporting it with group services and solutions like E’nergy , with the necessary financial and human resources and the portfolio of specialist knowledge.
Frédéric JORY, Managing Director of SAGEOS, confided: “As part of our mission to build bridges between aspiring players and established groups, we are delighted to be able to support CFG with a group like E’nergys that has a long-term vision, a financial basis, a European dimension and a wide range of complementary companies in the energy and water sector promise promising synergies. “He adds:” This operation, which seals a close cooperation between the two companies, ideally corresponds to our common ambitions to create top poles in geothermal energy with European influence while maintaining the expertise and jobs in France. ”
A “sustainable” investment to exploit the potential of geothermal energy
According to the SER – Syndicat des Energies Renouvelables, the development of geothermal energy will play a key role in the development and success of the new French energy model. With the endeavor to become a driving force in the BtoB energy transition by accelerating the use and utilization of renewable energies, E’nergys is adding “new strings” – geothermal energy, fine chemicals and drilling – in its core business by acquiring a stake in CFG Optimization of the water and energy cycle.
With the support of Socomec Holding, E’nergys stands out by developing solutions and services to optimize energy efficiency and the water cycle for public and private stakeholders. With its ecosystem dimension, E’NERGYS covers all companies and specialist knowledge that are required to accelerate the B2B energy transition, with digital acting as an additional “engine”. With 300 employees and a turnover of 45 million euros, E’nergys combines a pool of know-how, agility, proximity and innovation across the entire value chain in order to optimize the business cycle. Energy and water.
Frédéric CREPLET, Managing Director of the E’nergys Group, explains: “We were convinced by CFG, which enjoys recognition and legitimacy in geothermal energy through its membership in BRGM as well as through its expertise and its numerous projects. reached. Our minority stake is the first step in a strong technological and commercial collaboration agreement with CFG to develop synergies between “know-how” and a network of the area with high geothermal potential such as the Ile de France, Aquitaine, the Caribbean. “
He sums up: “This transaction is part of our strategy for sustainable investments in the image of the corporate culture, to enrich our competence portfolio with renewable energies that are really clean, efficient and profitable. As such, E’nergys and CFG have the will to put together innovative solutions, taking into account the “fair consumption” of water and the environment, in order to unlock the potential of geothermal energy in the production of electricity, heating, cooling … in France and in Europe. ”
Source: Company approval
