French geothermal consultancy CFG acquired by Energys

CFG maintenance on geothermal site (source: CFG)

Announced already in mid-March 2021, French energy solutions and services firm E’nergys acquires a stake in CFG, a subsidiary of the BRGM Group (the French Geological Survey) in efforts to strengthen its role in the energy transition towards geothermal energy and water.

E’nergys acquired a 30% stake in CFG – Compagnie Française de Géothermie (CFG), owned by SAGEOS (a 100% subsidiary of BRGM).

By 2030, geothermal energy, a local energy, available 24/7 and carbon-free, should be a part of the French energy mix. Faced with this observation, the accelerator of the B2B energy transition, E’nergys, backed by the financial base of the SOCOMEC family ETI, has just acquired 30% of the capital of CFG, a specialist in geothermal energy applied to production. heat and electricity, owned by SAGEOS (a 100% subsidiary of BRGM).

Thus, the specialist in industrial geothermal energy, CFG – Compagnie Française de Géothermie – is entering the ecosystem of “know-how” and energy performance professions . This operation is part of the common ambition of the two companies to develop geothermal energy in France and in Europe to accelerate the change in the energy production and consumption patterns of local authorities, manufacturers and service sector players , at a time of energy transition.

A first step in a “long-term” cooperation

Under the terms of the agreement signed in January 2021, E’nergys acquires 30% of the capital of CFG , held by SAGEOS, a subsidiary of BRGM, a benchmark public body for Earth Sciences, with an additional purchase option offering it the possibility of becoming a majority shareholder within 18 months .

Founded in 1985 and located in Orléans, CFG is positioned as an expert in industrial geothermal energy applied to the production of heat and electricity in France and internationally, i.e. in more than 40 countries. The company has a pool of expertise in deep & 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, via its subsidiary SAGEOS, to perpetuate and open up new development prospects for a French geoscience “nugget” such as CFG by backing it up with a group services & solutions like E’nergys, having the necessary financial and human resources and the portfolio of expertise.

Frédéric JORY, Managing Director of SAGEOS confided in us: “As part of our mission to create bridges between emerging players and established groups, we are happy to be able to back CFG with a group like E’nergys, which has a long-term vision, a financial base, a European dimension and a wide range of complementary businesses in energy & water, pledges of promising synergies ” He adds: ” This operation, which seals a strong cooperation between the two companies is ideally in line with our common ambition to create poles of excellence in geothermal energy with a European influence, while retaining expertise and jobs in France. ”

A “sustainable” investment to unlock 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 construction and success of the new French energy model. With the ambition to become a driving force in the BtoB energy transition, by accelerating the exploitation and use of renewable energies, E’nergys is adding, with its acquisition of a stake in CFG, “new strings to its bow” – geothermal energy, fine chemicals and drilling – in its core business, the optimization of the water and energy cycle.

Backed by the Socomec holding, E’nergys stands out in the development of energy performance and water cycle optimization solutions and services for public and private stakeholders. With its ecosystem dimension, E’NERGYS covers all the businesses and expertise required to accelerate the B2B energy transition, with digital as a complementary “engine”. With a workforce of 300 employees and a turnover of EUR 45 million, E’nergys combines a pool of expertise, agility, proximity and innovation across its entire value chain in optimizing the business cycle. energy and water.

As Frédéric CREPLET, Managing Director of the E’nergys group confides: “We were won over by CFG, which enjoys recognition and legitimacy in geothermal energy, both through its membership in BRGM, its expertise and its numerous projects. achieved. Our minority stake is the first step in a strong technological and commercial cooperation agreement with CFG to develop synergies of “know-how” and a network of the territory with high geothermal potential such as the Ile de France, the Aquitaine, the Caribbean… ”

He concludes  : “This transaction is part of our strategy of sustainable investments, in the image of our group’s culture, of enriching our portfolio of skills with renewable energies that are truly clean, efficient and profitable. As such, E’nergys and CFG have the will to build together innovative solutions, respecting the “fair consumption” of water and the environment, to unlock the potential of geothermal energy in the production of electricity, heat, cold… in France and in Europe. ”

Source: Company release