Arverne Group Announces the Success of the Series B2 of Lithium de France for € 40M, with its Partner Equinor Ventures

PAU, France--(BUSINESS WIRE)--Regulatory News:

Arverne Group (ISIN code: FR001400JWR8, ticker symbol ARVEN) 1^st French leader of geothermal solutions, completes Series B2 financing for its subsidiary Lithium de France.

The capital increase, taking place in September was subscribed by Arverne Group and Equinor Ventures for €40 million. Following this transaction, Arverne Group will now hold 64.58% of Lithium de France's capital, and Equinor Ventures will hold 24.40%¹. This funding comes as Lithium de France's project has entered the pre-industrial phase, with the first drilling operations, the Direct Lithium Extraction (DLE) demo plant and the Front-end engineering Design (FEED), an integral part of the Definitive Feasibility Study (DFS).

Pierre Brossollet, founder and CEO of Arverne Group said: "This equity financing is a key step in Lithium de France, whose mission is to accelerate the energy transition for the prosperity of the regions. Lithium is one of the critical metals essential to meeting the expected growth in electric vehicles and battery energy storage. I am delighted with the renewed support from Equinor, whose expertise in subsurface and project execution will be decisive advantages."

Lisa Rebora, Head of Global Lithium in Equinor adds: “Equinor is pleased to continue our strategic partnership with Lithium de France and we reiterate our confidence in the company by continued investments through our capital venture arm. We look forward to working with Lithium de France to mature another supply chain by deploying Direct Lithium Technology.”

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About ARVERNE
ARVERNE, 1^st French leader of geothermal solutions.
Thanks to its expertise, Arverne transforms the natural resources in our ground and develops local heating, cooling, and lithium solutions. A mission-driven company listed on Euronext Paris, Arverne works to promote short-circuit energy sovereignty, serving local communities and industry.
www.arverne.earth

About Lithium de France
Lithium de France, a subsidiary of Arverne Group, is a French pioneer in low-carbon geothermal heat and lithium. Founded in 2020, Lithium de France's mission is to accelerate the energy transition by supplying heat to businesses, farmers, and local authorities and producing lithium for electric mobility. Lithium de France is an innovative leader based in Haguenau, in northern Alsace.
www.lithiumdefrance.com

About Equinor Ventures
Equinor Ventures is Equinor's venture capital arm, investing in ambitious companies in the start-up and growth phases. We believe that the innovation, creativity, and agility of startups can drive change towards a low-carbon future.
Equinor Ventures - Equinor

¹ Arverne Group holds 64.58% of Lithium de France's capital, Equinor Ventures 24.40%, Hydro Energy Invest AS 9.25%, and Management 1.86%.