Exceptional results from Lithium de France锟絪 first geothermal well, exceeding initial estimates
Bpifrance and the historical shareholders Eiffel Essentiel, Ademe Investissement and Cr锟絛it Mutuel Equity support a first 锟�33 million financing step
Arverne, the leading French supplier of geothermal solutions announces its roadmap for 2031锟�2033. Arverne aims to strengthen geothermal energy锟絪 role in France锟絪 energy mix and secure Europe锟絪 supply of geothermal lithium.
Presentation materials and video recordings of the events will be available on the Arverne website, under the 锟絀nvestors锟� section: Being an Arverne shareholder锟� - Arverne
Dual Flow Plan
Ambitions 2031/2033
锟� 2027: 1st production and sales of Heating & Cooling,
锟� 2028: 1锟絩e production and sales of geothermal lithium,
锟� 2031-2033:
o ~ 4 TWh/year generated annually in France from deep geothermal energy, accounting for more than 50% of the production targets set out in the third Multi-Year Energy Plan, and ~ 1 million metric tons of CO2 emissions avoided per year,
o 27,000 metric tons of lithium carbonate produced annually, enough to power 800,000 electric vehicles using Arverne geothermal lithium.
2026: 1st year of implementation of the Dual Flow plan
锟� Target of securing long-term contracts worth 锟�400 million
锟� Drilling completed for the first doublet in the Lithium de France project and commissioning of the Direct Lithium Extraction (DLE) demonstration plant
锟� Continuing to reduce environmental impact as an innovative and responsible operator.
锟� Funding the group's industrial and commercial expansion:
Arverne announces a first financing milestone with a proposed bond issue (ORANE) for a minimum amount of 锟�33 million, which would be subscribed primarily by Bpifrance, alongside its long-standing shareholders Eiffel Essentiel, ADEME Investissement and Cr锟絛it Mutuel Equity, historical shareholders of Arverne.1
Pierre Brossollet, Founder and Chief Executive Officer of Arverne, stated:
锟絀n a global context marked by instability, Arverne enhances subsurface resources to produce local, continuous energy, actively contributing to sovereignty, competitiveness and the energy transition in France and Europe.
With a portfolio of nearly one hundred projects in France and major advances in the Lithium de France project, Arverne expects a significant acceleration from 2026 onward, with the signing of 锟�400m in long term contracts.
By 2031锟�2033, Arverne targets approximately 4 TWh per year of deep geothermal energy production in France, representing more than 50% of France锟絪 energy roadmap objectives, corresponding to 1 million tonnes of CO2 emissions avoided compared with gas. Annual production of 27,000 tonnes of lithium in Alsace will equip the batteries of 800,000 electric vehicles with French geothermal lithium.
The business models we are developing, with EBITDA margins above 50% and multi decade contracts, will generate secured revenues and recurring cash flows.
I would like to express my gratitude to our current shareholders and those who will join us for their trust. Arverne Group is now at the dawn of a major value creation cycle.锟�
Geothermal energy widely endorsed to diversify the French and European energy mix
In 2025, the French government introduced concrete measures to remove obstacles to the development of geothermal energy 锟� this local, decarbonized and continuously available renewable energy, which is essential to energy independence for heat. This policy stance was reinforced in early 2026 by the third Multiannual Energy Program (PPE3), which aims to reduce the share of fossil fuels in final energy consumption from 60% to 40% by 2030 through massive electrification and increased use of renewables, while increasing geothermal production fivefold by 2035.
At the same time, the European Union is preparing a Geothermal Action Plan for the second quarter of 2026, targeting 250 GW of installed capacity by 20402锟絪ix times the current level. This plan comes in a critical context: the end of Russian gas imports in 2027, forcing Europe to rethink its energy strategy.
Lithium: a strategic issue for electric mobility and industrial autonomy
Global lithium demand is expected to quadruple by 2040, driven by the rapid growth of electric vehicles and energy storage solutions.
This metal, at the core of rechargeable batteries, has become a strategic resource to support the transition toward more sustainable mobility and the large scale integration of renewable energy.
In response to these challenges, the European Union is pursuing its strategy to develop local lithium production and reduce its dependence on imports锟絧rimarily from China锟絬nder the Critical Raw Materials Act (CRMA) adopted in 2024 and the Industrial Accelerator Act.
France is structuring a competitive and sovereign value chain through France Batterie, whose objectives especially include the deployment of gigafactories to reach 100 to 120 GWh of production capacity by 2030 and the securing of raw material supplies.
Dual Flow
Arverne锟絪 strategy is built on recognized technical expertise and a high level of integration of its know how. This trajectory has been shaped in particular through structuring partnerships, which have helped consolidate a clearly established reference position and create genuine barriers to entry in its markets.
Since its inception, Arverne has developed a unique model underpinned by solid assets, enabling the Group to pursue new ambitions today:
锟� industrial expertise supported by a fleet of equipment and in house competencies,
锟� a firmly driven commercial momentum in the Heating & Cooling business, backed by a continuously expanding project portfolio,
锟� ongoing operations at a first site under the Lithium de France project, with the prospect of producing lithium and geothermal heat over a 30 year period.
Given the strong growth of the geothermal heat and lithium markets, Arverne is in a particularly favorable position, already benefiting from significant visibility on its development prospects.
Building on these strengths, the Group sets out its ambitions for the 2031锟�2033 horizon through its Dual Flow Plan, which embodies the industrial and commercial acceleration now underway.
锟� Drilling & Construction: the foundation for the development of Arverne锟絪 ambitions
Arverne has integrated the Drilling & Construction activity in order to secure human resources and to gain better control over the scheduling of its internal operations. To date, the Group operates three rigs dedicated to deep geothermal energy.
To support the growth of its Heating & Cooling and Critical Metals activities, Arverne plans to continue expanding its fleet, notably through the acquisition of two deep geothermal rigs by 2031, representing an investment of 锟�50 million. In order to optimize the use of its resources, the Group will continue to carry out operations for third parties, generating an EBITDA margin of [10锟�15%].
锟� Heating & Cooling: 30 projects with unit revenue of approximately 锟�140 million under 30 year contracts
Arverne锟絪 teams have built on a commercial portfolio of nearly 100 deep geothermal projects across metropolitan France, representing a potential of 5 TWh of geothermal heat.
By 2031锟�2033, the Heat & Cooling business aims to deploy 30 projects, corresponding to the production and commercialization of 2 TWh per year of geothermal heat. Over a 10 year horizon, nearly 50 projects and 3.5 TWh are expected to be in production and commercialization.
A project will produce on average 75 to 80 GWh per year over a renewable 30 year period, generating approximately 锟�140 million in revenue over the period, with an EBITDA margin of [40锟�45%] and an IRR of [8锟�10%]. On a per project basis, initial gross investments will amount to approximately 锟�25 million, plus 锟�150,000 in annual maintenance costs.
To support its commercial transformation and the execution of upcoming projects, Arverne intends to focus its strategy on developing deep geothermal projects alongside partners, within an SPV model, vehicles which will be controlled by Arverne.
Beyond the strong growth expected from this activity backed by 30 year contracts, Arverne aims to achieve an EBITDA margin of approximately 50% for its Heating & Cooling business.
锟� Critical metals 锟� Lithium de France Project: production peak expected in 2031锟�2033, 锟�450 million in average annual revenue over 30 years
In 2020, Arverne launched the Lithium de France Project, with the ambition of producing both local, low carbon geothermal heat to serve local communities and industries, and geothermal lithium capable of equipping up to 800,000 electric vehicles. National in scope, this project will create nearly 200 direct jobs and 700 indirect jobs in Alsace.
By 2031锟�2033, 2.2 TWh of geothermal heat and 27,000 tonnes of geothermal lithium carbonate will be produced each year. The results of the pre feasibility study (PFS), released in September 2024, have validated the competitiveness of the A DLE technology. The definitive feasibility study (DFS), to be conducted through summer 2026, will refine this initial analysis and the associated financing requirements for the project锟絪 deployment.
The table below summarizes the key characteristics of the Lithium de France Project and highlights its attractiveness in terms of revenue and profitability, with approximately 锟�450 million in average annual revenue, over a 30 year period, and a target average EBITDA margin of 75%.
2026: First year of implementation of the Dual Flow plan, marking industrial and commercial acceleration
锟� Progress toward the target of 锟�400 million in long term contracts to be signed in 2026
Arverne announces the signing of a memorandum of understanding for heat distribution in Alsace with Primeo Energie France, a specialist in renewable energy distribution, and its subsidiary R CUE, a key player in the development of district heating networks.
This agreement relates to the development by R CUE of a network dedicated to the commercialization of decarbonized, local, stable and competitive geothermal heat, under long term contracts.
It aims to enhance the value of the heat production of Lithium de France, an Arverne subsidiary, whose plants would supply existing or future networks, as well as industrial customers.
锟� Lithium de France: first geothermal well results exceeding initial estimates
The results of the test of the first drilled well exceed the upper-end assumptions: a stabilized flow rate of 275 m锟�/h (vs. 250 m锟�/h estimated), a temperature of 145锟紺 (vs. 130锟紺 estimated), and a productivity of 10 L/s/bar demonstrate an exceptional resource and confirm the relevance of the site.
The lithium grade of 180 ppm3, combined with the absence of any detected induced seismicity, validates both the industrial potential and the operational control of the project.
This first well provides the clearest, concrete, measured and reproducible evidence that the project in Alsace is one of the most promising in Europe.
锟� Financing of the Group锟絪 industrial and commercial scale up
Arverne announces a first financing milestone through a proposed bond issue (ORANE), for a minimum amount of 锟�33 million, which would be subscribed primarily by Bpifrance, alongside its long-standing shareholders Eiffel Essentiel, ADEME Investissement and Cr锟絛it Mutuel Equity, historical shareholders of Arverne4.
Completion of this transaction is subject to approval by the Shareholders锟� General Meeting to be held on 17 June 2026, as well as to customary precedent conditions.
It is specified that the Subscribers have undertaken to vote in favor of the resolutions relating to the issuance of the ORANEs.
As part of its industrial and commercial acceleration plan, Dual Flow, Arverne is also considering additional financing transactions, including a potential capital increase.