Arverne Founder and CEO Pierre Brossollet is increasing his equity stake in the company, in a move the geothermal energy developer said reflects confidence in its long-term prospects.
Arverne, which is listed on Euronext Paris, said Brossollet will acquire shares representing 5.76% of the company's capital through a series of off-market block trades.
The shares are being acquired by Geogreen from long-standing minority shareholders, including Alhia Green and Langa International. Alhia Green, an investment firm focused on energy transition projects, and Langa International, a renewable energy development and investment company, have been investors in Arverne since its early stages.
According to Arverne, the sale marks the completion of an investment cycle for the two shareholders, while increasing Brossollet's position in the company.
“I would like to warmly thank Gilles Lebreux, through Alhia Green and Langa International, for his trust and commitment alongside Arverne,” Brossollet said.
“His strategic vision and support during the early stages were instrumental in structuring the group and helping bring our ambitions to life.”
Arverne said the transactions form part of the conditions attached to a planned investment by RGREEN INVEST through the INFRAGREEN V equity fund, under a memorandum of understanding signed with Arosco, Brossollet's holding company. Completion is expected by 17 July 2026.
Alongside the minority shareholder transactions, Geogreen and Arosco have signed an agreement relating to the reorganisation of Brossollet's indirect shareholding in Arverne.
In a separate statement issued on 16 June, Arverne said the proposed partnership between the founder and RGREEN INVEST is intended to support the company's next phase of growth and the wider deployment of geothermal energy projects in France.
Nicolas Rochon, Founder and Chairman of RGREEN INVEST, said: “Through this investment project, we reaffirm our conviction that geothermal energy has a strategic role to play in building a competitive, resilient and decarbonised French energy mix. We are delighted to support Arverne, a national leader in this fast-growing sector, and to contribute to strengthening French and European industrial and energy sovereignty.”
Arverne develops geothermal energy projects for heating and cooling applications and is also advancing lithium extraction projects, including its flagship Lithium de France development in Alsace.