Ecostal Group, a major player in the energy transition active in the B2B distribution of photovoltaic solutions and the design, manufacture and installation of photovoltaic structures for medium- to large-scale projects, today formalised an agreement to raise €100 million.

This transaction will provide Ecostal with a stable shareholder base, enabling it to retain control in Belgium of one of Europe's leaders in energy transition, while continuing to expand on international markets.

Strong support from institutional and private investors

The first half of this fundraising comprises capital increase subscribed by a consortium made up of Wallonie Entreprendre (WE), Noshaq and TRANSENERGIE, as well as by the company's management, proof of the latter's confidence in Ecostal Group's European ambitions.

The second half consists of loans from Belgian banks, WE International and the management.

The purpose of this fundraising is to finance the Group's organic growth and recent acquisitions (Project Zero, Yomatec in France and Solexis in Switzerland). This announcement coincides with the formalization of the acquisition of Solexis, a major player in B2B distribution of photovoltaic equipment and solutions in Switzerland.

A response to a dynamic and volatile market

With this funding, Ecostal Group intends to leverage market opportunities by strengthening its international presence and diversifying its product and service offering. The group will invest in developing its logistics platform as well as a range of proprietary non-competing products. To do this, Ecostal Group will draw on the skills of its engineering company Siguesol, which develops ground-mounting systems for solar fields and solar carports.

In parallel, and with a longer-term perspective, the Group is working with external partners on panel recycling solutions, which will speed up the sustainable replacement of old panels with more efficient ones.

“Convincing players such as Wallonie Entreprendre, Noshaq and TRANSENERGIE is a strong signal for the sector. I am delighted by this collaboration, and to welcome a group of first-class complementary investors,” says Stéphane Dauvister, founder and Chairman of the Board of Ecostal Group. “Through the acquisitions of Project Zero, Yomatec and Solexis, the Ecostal Group has reached a new dimension. With this new critical mass in the market, we'll be able to compete more effectively with local players, thanks to a larger workforce and a broader diversity of skills.”

“We are now better equipped to compete with the larger European players. Each of the companies we have acquired has specific skills that Ecostal Group can draw on to better serve its customers. A larger European presence also means greater availability of products, which is a real advantage for our customers,” explains Christophe Piron, CEO of Ecostal Group.

For Olivier Bouchat, lead investor at WE: “The participation of the public consortium (WE, Noshaq and TRANSENERGIE) in this round of financing is perfectly in line with our own ambitions to support Wallonia’s transition to a low-carbon economy. We believe it is essential to support the organic and external growth of a major European player in the energy transition who has Walloon origins and roots. The prospect of setting up a long-term partnership aimed in particular at developing a range of proprietary products and a recycling chain, in a sector with considerable future potential, also contributes to supporting the circular economy.”

ABOUT ECOSTAL GROUP:

Founded in 2008 by Stéphane Dauvister, Ecostal Group is now a major player in the energy transition. The group has structured its business around two main divisions. The first involves B2B distribution of photovoltaic solutions, including solar equipment, batteries and charging stations, for residential projects as well as small and medium-scale commercial and industrial projects. The second is the design, manufacture and installation of photovoltaic structures for medium- to large-scale projects, including ground-mounted installations, shading systems and agrivoltaics solutions.

Ecostal Group operates in France through the French subsidiaries of Ecostal and Siguesol, as well as Yomatec, and stands out for its commitment to providing innovative photovoltaic solutions tailored to the specific characteristics of the French market. With its local expertise and strengthened presence in France, the company is making an active contribution to the energy transition by offering tailor-made solutions that meet the energy challenges of today and tomorrow.

Ecostal Group operates in Belgium, France and Spain through nine separate legal entities (Ecostal Group SA, Ecostal SA, Ecostal SAS, Siguesol SRL, Siguesol SAS, Project Zero BV, SolaRecycle SA, Yomatec SA, Yomatec Solar SL). The company has around 60 employees dedicated to the energy transition.

ABOUT WE:

Wallonie Entreprendre (WE) is the economic and financial tool at the service of Walloon companies. WE provides the resources needed to develop economic activity in various sectors such as energy, agri-food, biotech, deeptech and many others. WE's investments and financing are always geared towards the creation, growth, transfer or revival of businesses. WE ensures compliance with social and environmental standards, and advocates the sustainability and circularity of economic approaches.

For further information:www.ecostal.com ; www.ecostal.fr ; www.project-zero.be ; www.siguesol.com ; www.yomatec.com ; www.solexis.ch.

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Press Contact Ecostal Group:

Thierry Chonglez, Group Head of Marketing

M : +32 497 512 712

Email: thierry.chonglez@ecostalgroup.com

Press Contact WE:

Nathalie Lafontaine, Porte-parole

M : +32 476 93 38 49

Email : nathalie.lafontaine@wallonie-entreprendre.be