Arverne Group Seeks Larger Stake in Lithium de France

Arverne Group, a French company focused on renewable underground resources, is in talks with Hydro Energy Invest AS to boost its stake in its subsidiary, Lithium de France. This move will involve Hydro Energy Invest exchanging its shares in Lithium de France for shares in Arverne Group. The potential deal is set to strengthen Arverne's shareholding with a major energy player.

Lithium de France, founded in 2020, operates an innovative project in Alsace combining geothermal heat and lithium production. By 2031, it aims to supply 2.2 TWh of geothermal heat and 27 kt of lithium annually, meeting a third of France's projected 2035 lithium demand. The Direct Lithium Extraction technology used promises top-quartile global production costs.

This strategic transaction would enhance Arverne's role in the critical metal market, as lithium demand for electric mobility continues to rise. Final agreements are pending, with updates to follow.