Verso Energy, a company founded by Xavier Catucoli and Antoine Huard, recently completed a fundraising of over 50 million euros in order to speed up the development and commissioning of a portfolio of projects. This portfolio includes more than 2 GW of solar photovoltaic power plant projects, hydrogen production units, and stationary battery storage facilities. The fundraising was notable for its participation from Eiffel Investment Group, AMS Capital, Crescendix, and Antoine Huard.
Eiffel Investment Group, through its subsidiary Eiffel Gaz Vert, is an innovative fund that invests in projects involving hydrogen and renewable gases. AMS Capital is a venture capital business and subsidiary of AMS Industries, which is run by Jean-Paul Bize. AMS Industries and Xavier Catucoli were two of the largest shareholders of Direct Energie before it was acquired by Total in 2018. Crescendix is Xavier Catucoli’s investment firm.
Verso Energy, which was established in early 2021, has a mission to implement strategies for combining renewable electricity generation with flexibility tools such as batteries for short-term storage and electrolyzers for hydrogen production. This is in order to lessen the adverse effects of intermittency caused by the increasing use of renewable energies.
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“The energy transition is accelerating significantly, but more importantly, it is entering a completely new stage. 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. Having leading investors like Eiffel and AMS Capital joining us to fund this incredible adventure makes us extremely happy,” said Xavier Catucoli, president and co-founder of Verso Energy.
