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Corporation
ENERGY & UTILITIES | Electric
edf.fr

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Investments

18

Portfolio Exits

3

Partners & Customers

10

About Electricite de France

Electricite de France (EDF) is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy.

Electricite de France Headquarter Location

22/30 avenue Wagram

Paris, 75008,

France

+33 (0)1 40 42 46 37

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Latest Electricite de France News

French nuclear giant’s fall puts Europe’s energy security at risk

Jan 24, 2022

Sorry, but your browser needs Javascript to use this site. If you're not sure how to activate it, please refer to this site: https://www.enable-javascript.com/ Steam rises from cooling towers of the Electricite de France (EDF) nuclear power plant in Belleville-sur-Loire, France, on Oct. 12. | REUTERS Jan 24, 2022 The long decline of Electricite de France SA isn’t only a political crisis for the government in Paris — it’s a growing economic threat for much of Europe. The giant nuclear operator, once a source of national pride and reliable low-cost electricity, has become a nightmare for investors and an increasingly wobbly pillar of regional energy security. Technical problems at some of its largest reactors mean EDF is set to produce the smallest amount of atomic power in three decades, slashing France’s exports to neighboring countries. It’s a one-two punch for a region that’s already reeling from record natural gas prices, and shows little sign of abating. Instead of helping EDF deal with its problems, the French government is extracting billions of dollars from the company to shield households from high energy costs. “The generic issue with EDF’s reactors is leading to an unprecedented decline in production, which starts being worrying,” said Nicolas Goldberg, a senior manager in charge of energy at Colombus Consulting in Paris. “We’re going to have high prices on the European market for a while. Everybody’s going to pay more.” France is located at the heart of Western Europe’s power grid. For decades, its fleet of nuclear reactors have been the continent’s largest electricity exporter, supplying the U.K., Spain, Italy, Switzerland, Belgium and Germany at times of peak demand. Now more than ever — with the price of coal, natural gas and carbon permits soaring — those countries could use some fossil-free electricity. Yet five of EDF’s 56 reactors have been unexpectedly halted for checks and repairs related to corrosion and cracks on pipes in a key safety system. Traders are waiting anxiously to see whether safety reviews find similar flaws in more of the company’s plants. The logo of Electricite de France (EDF) flies next to the French flag fly near an EDF power plant in Bouchain, France, on Sep. 29. | REUTERS The timing is terrible, exacerbating what was already Europe’s most severe energy crisis since the oil shock half a century ago. Power prices in France are four times higher than usual for this time of year. That’s partly down to the surging cost of gas, but also due to scarce electricity supplies. Prices in Germany have been dragged higher too by shrinking power-supply margins. With more than two months of winter still to go, there’s a real risk that a cold day without any wind could test the system. “There is very little alternative capacity left in France once demand goes over 85 gigawatts and the interconnectors are maxed out,” said Jean-Paul Harreman, an analyst at research firm Enappsys Ltd. “During cold periods, nuclear outages have a very big impact on prices.” Long decline Even before the latest issues, the performance of EDF’s French nuclear plants has progressively waned over the years. Technical problems have undermined the availability of existing plants, while its new flagship reactor in Flamanville is years behind schedule and and way over budget. “The French nuclear industry used to be at the forefront globally, which isn’t the case any more,” said Nicolas Leclerc, the co-founder of Omnegy, an energy consulting firm based near Paris. EDF’s nuclear output, which peaked at 430 terawatt-hours in 2005, fell to 335 TWh in 2020 when the pandemic affected production and demand. That was also the year that French President Emmanuel Macron forced the utility to permanently shut down its two oldest reactors to stick to a pledge he made before his election in 2017. After rebounding 361 TWh last year, the company’s output will drop to between 300 and 330 TWh in 2022 because of the need to repair the reactors affected by the cracks, EDF said last week. Power generation continues to be hampered by the rescheduling of maintenance during by the pandemic. Some plants will also have to undergo a series of long halts for upgrade works that will extend their operational lifetimes. A pylon carrying high-tension electricity power lines stands against the sunset near Nantes, France, on Thursday. | REUTERS The British Isles have typically imported power from France through two huge cables running under the English channel. This winter, the reverse has been true, with the U.K. often exporting to France at peak times. On some days in December, when nuclear availability was limited and temperatures were very low, French imports rose as high as 13 GW, about 15% of peak demand, according to Enappsys. Nuclear power is dwindling elsewhere in Europe too. EDF has shut down some reactors in the U.K. earlier than planned because of other safety issues, while Germany will permanently close its three remaining reactors by the end of the year, after shutting down three others a few weeks ago. Belgium will also close a reactor in October, and halt its six others by the end of 2025. At the same time, those countries are adding large amounts of wind and solar generation, filling the gap left by nuclear but increasing their energy systems’ dependence on the whims of the weather. Without reliable baseload power exports from EDF, a cold and windless winter day will become a potentially stressful scenario. “The dependency on France is likely to increase with Germany getting out of coal and nuclear,” said Johannes Pretel, head origination for Germany at Swiss utility Axpo Holding AG. “This winter we still had all of our capacity, next winter we don’t have it anymore because the last nuclear plants will be out.” EDF is under growing pressure to restore its reputation as a reliable supplier. To address long-term threats to security of energy supply, France should reconsider its plan to halt a dozen reactors by the middle of the next decade, the country’s nuclear regulator said on Jan. 19. Last month, French Ecology Minister Barbara Pompili summoned EDF Chief Executive Officer Jean-Bernard Levy to a meeting where she demand that the company improve power production. The government has also urged EDF to introduce best practices from nuclear operators in other countries, or different industries that also have to manage hefty maintenance programs. It’s a big step down from the days when France was confident that its nuclear industry was the best in the world, but the severity of the power crisis has prompted some soul searching in the country. “Over the past decades, we may have rest a bit too much on our laurels while the output was dwindling,” Industry Minister Agnes Pannier-Runacher said at the Union Francaise de l’Electricite annual conference last month. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.

Electricite de France Investments

18 Investments

Electricite de France has made 18 investments. Their latest investment was in Algar as part of their Series B on November 11, 2021.

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Electricite de France Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/19/2021

Series B

Algar

$3.61M

Yes

Undisclosed Angel Investors, and Undisclosed Investors

2

12/8/2020

Series A

SunCulture

$14M

No

2

9/29/2020

Corporate Minority

Ecosun Innovations

Yes

2

6/2/2020

Series A

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$99M

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10

5/27/2020

Series A - IV

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10

Date

11/19/2021

12/8/2020

9/29/2020

6/2/2020

5/27/2020

Round

Series B

Series A

Corporate Minority

Series A

Series A - IV

Company

Algar

SunCulture

Ecosun Innovations

Subscribe to see more

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Amount

$3.61M

$14M

$99M

New?

Yes

No

Yes

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Co-Investors

Undisclosed Angel Investors, and Undisclosed Investors

Sources

2

2

2

10

10

Electricite de France Portfolio Exits

3 Portfolio Exits

Electricite de France has 3 portfolio exits. Their latest portfolio exit was POD Point on November 08, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/8/2021

IPO

1

6/12/2021

Acq - Fin

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$99M

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10

1/1/2008

Acquired

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10

Date

11/8/2021

6/12/2021

1/1/2008

Exit

IPO

Acq - Fin

Acquired

Companies

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Valuation

$99M

Acquirer

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Sources

1

10

10

Electricite de France Acquisitions

7 Acquisitions

Electricite de France acquired 7 companies. Their latest acquisition was Wexford Solar on October 01, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/1/2020

$99M

Acquired

1

2/7/2020

Other Venture Capital

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$99M

$99M

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10

9/1/2018

Other

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$99M

$99M

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10

12/22/2017

Other

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$99M

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10

10/3/2017

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$99M

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10

Date

10/1/2020

2/7/2020

9/1/2018

12/22/2017

10/3/2017

Investment Stage

Other Venture Capital

Other

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

$99M

Note

Acquired

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Sources

1

10

10

10

10

Electricite de France Partners & Customers

10 Partners and customers

Electricite de France has 10 strategic partners and customers. Electricite de France recently partnered with VinFast on November 11, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

11/6/2021

Partner

VinFast

Vietnam

VinFast partners with French firm in developing vehicle charging stations

Under the MoU , VinFast will partner with EDF in providing solutions related to the public vehicle charging station network , and designing special incentives for owners of VinFast electric vehicles in France .

1

1/25/2021

Vendor

Landis+Gyr

United States

landis-logo-with-tagline Landis+Gyr secures major contract with partner EDF to deliver 650,000 SMETS2 Meters - Landis+Gyr

London -- 25 January , 2021 -- Landis + Gyr , a leading global provider of integrated energy management solutions , today announced that it has secured an additional major contract through its partnership with EDF .

1

12/17/2020

Partner

Capgemini

France

Capgemini : EDF International Networks and Capgemini sign a global agreement to offer services around smart meters and smart grids

Paris , December 17 , 2020 - EDF and Capgemini today signed a partnership agreement to combine their expertise and together confirm their position as major players for emerging smart grid projects worldwide .

3

12/17/2020

Partner

BBOXX

United Kingdom

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10

6/25/2020

Partner

Pasqal

France

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10

Date

11/6/2021

1/25/2021

12/17/2020

12/17/2020

6/25/2020

Type

Partner

Vendor

Partner

Partner

Partner

Business Partner

VinFast

Landis+Gyr

Capgemini

BBOXX

Pasqal

Country

Vietnam

United States

France

United Kingdom

France

News Snippet

VinFast partners with French firm in developing vehicle charging stations

Under the MoU , VinFast will partner with EDF in providing solutions related to the public vehicle charging station network , and designing special incentives for owners of VinFast electric vehicles in France .

landis-logo-with-tagline Landis+Gyr secures major contract with partner EDF to deliver 650,000 SMETS2 Meters - Landis+Gyr

London -- 25 January , 2021 -- Landis + Gyr , a leading global provider of integrated energy management solutions , today announced that it has secured an additional major contract through its partnership with EDF .

Capgemini : EDF International Networks and Capgemini sign a global agreement to offer services around smart meters and smart grids

Paris , December 17 , 2020 - EDF and Capgemini today signed a partnership agreement to combine their expertise and together confirm their position as major players for emerging smart grid projects worldwide .

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Sources

1

1

3

10

10

Electricite de France Team

5 Team Members

Electricite de France has 5 team members, including former Chief Executive Officer, Thierry MULLER.

Name

Work History

Title

Status

Bruno Sportisse

Founder

Former

Thierry MULLER

Chief Executive Officer

Former

Claire Waast-Richard

Chief Information Officer

Former

Łukasz Skarka

Controller

Former

Olivier Kerrec

Managing Director

Former

Name

Bruno Sportisse

Thierry MULLER

Claire Waast-Richard

Łukasz Skarka

Olivier Kerrec

Work History

Title

Founder

Chief Executive Officer

Chief Information Officer

Controller

Managing Director

Status

Former

Former

Former

Former

Former

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