France Gets €70M Boost for Geothermal Energy Revolution

France is doubling down on the clean energy hiding beneath its feet, and a groundbreaking €70 million investment just proved it.

RGREEN INVEST, through its GEOGREEN fund, committed €37 million to Arverne, France's leading geothermal solutions provider. The investment anchors a larger €70 million fundraising that brings together major players including Bpifrance, Eiffel Essentiel, ADEME Investissement, and Crédit Mutuel Equity.

Arverne isn't just drilling holes in the ground. The company has built an integrated system that taps into Earth's natural heat to provide renewable heating for local governments and industrial customers across France.

What makes this deal particularly exciting is the dual benefit. While extracting geothermal heat, Arverne is also working to recover lithium, a critical mineral needed for electric vehicle batteries. This means one drilling operation can support two essential parts of Europe's clean energy transition.

The funding comes as Europe seeks to strengthen its energy security and reduce dependence on imported fossil fuels. Geothermal energy offers a reliable, locally produced alternative that works 24/7, regardless of weather conditions.

Nicolas Rochon, founder and CEO of RGREEN INVEST, emphasized the strategic importance: "We are supporting the development of a more competitive, resilient and low-carbon French energy mix." His firm specifically targets infrastructure that combines environmental impact with long-term economic stability.

The Ripple Effect

This investment represents more than just one company's growth. It signals a maturing market for geothermal energy across Europe, where underground heat has long been underutilized compared to solar and wind power.

By proving that geothermal projects can attract major investment, Arverne is paving the way for similar ventures across the continent. Communities that rely on imported natural gas for heating could soon tap into renewable warmth from their own backyards.

The lithium recovery component adds another layer of impact. As Europe races to build domestic battery manufacturing capacity, securing local sources of critical minerals reduces reliance on overseas supply chains while minimizing the environmental footprint of mining.

RGREEN INVEST now holds a board seat at Arverne, represented by Managing Partner Alexis Broders. This hands-on partnership approach suggests long-term commitment rather than a quick financial flip.

Pierre Brossollet, Arverne's founder and CEO, welcomed the partnership's "strong entrepreneurial culture," noting it provides resources to execute the company's growth ambitions while creating sustainable value.

The clean energy transition just got a little warmer, and it's coming from right beneath our feet.