French national investment bank Bpifrance has confirmed its energy transition-focused strategy with the investment of $100m in Paris-based Technip Energies.
The deal, made within the framework of the agreements concluded between Bpifrance and TechnipFMC, will see the investment bank boost its current stake to approximately 7%.
Bpifrance had previously provided funding of $200 million for the purchase of Technip Energies’ shares from TechnipFMC.
Nicolas Dufourcq, Bpifrance CEO, said: “We welcome the very good conditions of Technip Energies’ market entry, which marks the take-off of one of France’s leading engineering and technology actors with global reach. Bpifrance’s increase in capital illustrates our confidence in Technip Energies’ diversification strategy and in its positioning resolutely focused on accelerating the energy transition, which creates sustainable value.”
Arnaud Pieton, CEO of Technip Energies, stated: “We are delighted to see Bpifrance increase their shareholding in our newly-listed company, which builds on a trustful and long-standing relationship. This is a clear endorsement of our operational robustness and vision to accelerate the journey to a low carbon society.”
TechnipFMC and Technip Energies separated into two independent, publicly traded companies in February this year, with the latter more focused on energy transition.
Bpifrance has been a substantial shareholder of TechnipFMC since 2009, who said it intends to significantly reduce its shareholding in Technip Energies over the next 18 months.