Verso Energy completes a €50M fundraising

In order to speed up the development and commissioning of a portfolio of projects that already includes more than 2 GW of solar photovoltaic power plant projects, hydrogen production units, or stationary battery storage facilities, Verso Energy, founded by Xavier Catucoli and Antoine Huard, completed a fundraising of more than 50 million euros.

Eiffel Investment Group (via Eiffel Gaz Vert), AMS Capital (a venture capital business and AMS Industries subsidiary run by Jean-Paul Bize), Crescendix (Xavier Catucoli’s investment firm), and Antoine Huard were notable investors in this deal. Before Total acquired Direct Energie in 2018, AMS Industries and Xavier Catucoli were two of the company’s largest shareholders. The innovative fund Eiffel Gaz Vert, on the other hand, invests in projects involving hydrogen and renewable gases.

Verso Energy, which was established at the beginning of 2021, aims to implement strategies for combining renewable electricity generation with flexibility tools (batteries for short-term storage, electrolyzers for hydrogen production), in order to lessen the adverse effects of intermittency brought on by the rise of renewable energies.

“Of course, the energy transition is accelerating significantly, but more importantly, it is entering a completely new stage. In fact, companies will need to create new energy sources, like hydrogen, and sell energy in ways other than through tariffs that are subsidized in order to make up for the intermittent nature of renewable energies. Verso Energy, which is developing significant projects across France, is at the forefront of these new approaches. Leading investors like Eiffel and AMS Capital joining us to fund this incredible adventure makes us extremely happy “Xavier Catucoli, president and co-founder of Verso Energy, remarked.

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