Press release
VERGNET takes stock of its growth strategy
and diversification of its activities for 2024
Ormes, March 18, 2024 – 6 p.m.
Vergnet, a pioneer in renewable energy solutions, presented to investors, during its webinar on March 14, 2024, its latest developments, its new governance and its prospects for the year 2024.
Strengthening governance and diversification of financing
As part of its reorganization, Vergnet has strengthened its governance and management in order to support the Group’s transformation. A €2 million bond loan was issued by Vergnet Pacific and subscribed by Delta Alternative Management marking a significant diversification in financing options to support its future developments. Another non-dilutive financing is currently under discussion.
Additionally, in collaboration with Atlas Capital Markets, Vergnet has arranged convertible bond financing of up to €7.2 million, providing enhanced financial flexibility to seize market opportunities.
Expansion and diversification in Asia and Oceania
The expansion strategy in Asia/Oceania includes the development of solar relamping and public lighting activities, with innovative projects in New Caledonia and Wallis and Futuna. Vergnet also demonstrates its expertise in photovoltaics with the renewal of the Prony 3 wind farm and the production of photovoltaic solar hot water in Dumbéa, aiming to modernize 80 homes and reduce the carbon footprint.
Optimization and development on a global scale
The Group will continue its restructuring and implement measures to reduce structural costs, optimize production processes, and review its order book. Efforts are underway to increase activity in Asia/Oceania, expand industrial and financial partnerships, and recruit a dedicated team for photovoltaics in France and Southern Europe. Vergnet reaffirms its commitment to Africa with the restructuring of teams and the exploration of new projects.
Commitment to a sustainable future
These announcements underline Vergnet’s commitment to pursuing a responsible energy transition and its ambition to strengthen its leading position in the renewable energy sector. The renewed confidence of its customers and partners, as well as the strategic developments revealed, suggest a promising future for the company and its subsidiaries.
Watch the replay of the Webinar by clicking here
About Vergnet SA
The Vergnet group is an expert in the production of renewable energies (wind, solar, hybrid) on non-interconnected networks. With unique technologies, the Group has developed the Hybrid Wizard, a hybrid system controlling in real time the share of renewable energy injected into the electricity network while guaranteeing safety and operational security for island or isolated networks.
The Group has already installed 1,000 wind turbines and 402 MW of all energies combined. It is present in more than 50 countries and brings together 200 employees in 11 locations.
Vergnet has been listed on Euronext Growth since June 12, 2007. (FR001400JXA2- ALVER)
The Vergnet share is eligible for the PEA-PME
CONTACTS
Aelium | Vergnet Group |
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Full and original press release in PDF format:
https://www.actusnews.com/news/84611-cp_webinaire_vf.pdf
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