Wedoany.com Report-Sept. 24, The Arverne Group announced that its subsidiary, Lithium de France, has completed a Series B2 financing round, raising EUR 40 million. The funding supports the geothermal lithium project as it advances into the pre-industrial stage, which includes drilling activities, the development of a direct lithium extraction (DLE) demonstrator, and detailed preliminary design work.

Wineyards in the Alsace, France

The capital increase was subscribed by existing investors Arverne and Equinor Ventures. Following the transaction, Arverne Group will hold 64.58% of Lithium de France’s capital, while Equinor Ventures will hold 24.40%. Both companies reaffirmed their commitment to supporting the progress of this initiative.

Earlier this year, Arverne confirmed the launch of construction for the DLE demonstrator in the Bas-Rhin area of Alsace, France. The demonstrator is designed to validate the extraction process of lithium from geothermal brines in the Rhine Basin. The goal is to optimize efficiency, enhance selectivity, and minimize environmental impacts during extraction.

Pierre Brossollet, Founder and CEO of Arverne, commented: “This capital financing transaction is a key step in the Lithium de France project, whose mission is to accelerate the energy transition to serve regional prosperity. Lithium is one of the critical metals essential to meet the expected growth of electric vehicles and battery energy storage. I welcome the renewed support of Equinor, whose geological knowledge and experience in project execution will be decisive assets.”

Lisa Rebora, Global Head of Lithium at Equinor, added: “Equinor is pleased to continue its strategic partnership with Lithium de France and reiterates its confidence in the company by continuing to invest through its venture capital arm. We look forward to working with Lithium de France to develop a new supply chain by deploying DLE technology.”

Lithium de France’s project represents a significant effort to establish a sustainable and locally integrated lithium supply chain in Europe. By leveraging geothermal resources in the Rhine Basin, the initiative combines renewable energy production with critical mineral extraction. This dual approach highlights the potential of geothermal lithium to contribute both to the regional energy system and to the broader electrification trend in mobility and storage.

The new financing underscores the confidence of investors in the project’s potential and the strategic importance of lithium for the future of clean technologies. With the backing of Arverne and Equinor, Lithium de France is positioned to advance its pre-industrial operations and validate its technological processes.

The initiative is aligned with the broader objective of strengthening Europe’s independence in sourcing essential battery materials. As electric vehicle adoption and energy storage demand continue to rise, projects such as this aim to secure a resilient and responsible supply base.