Armor Joins French Solar Revolution with HoloSolis Stake

Nov 15, 2023 12:19 PM ET

• Armor Group has acquired a 20% stake in HoloSolis, a French solar company that plans to build a 5GW factory. Heraeus Holding GmbH also invested less than a month prior. Be part of the change – HoloSolis and Armor Group are creating 1,700 jobs and a EUR-700-million factory with the capacity to produce 10 million solar panels annually.

Armor Group has acquired a 20% stake in HoloSolis, a French solar company that plans to construct a 5 GW factory for photovoltaic cells and panels in Hambach, northern France. Armor Group has also been granted a seat on the firm’s supervisory board alongside founding shareholders EIT InnoEnergy, IDEC group and TSE. HoloSolis intends to open the EUR-700-million factory, which will have the capacity to produce 10 million solar panels annually and will employ approximately 1,700 people, in 2025. German family-owned technology group Heraeus Holding GmbH also purchased a stake in the firm less than a month prior to Armor Group’s investment.

What Percentage Stake Did Armor Group Acquire in HoloSolis?

• Armor Group is a private investment firm focused on renewable energy projects in Europe.
• Armor Group’s stake in HoloSolis is 20%, a significant amount compared to the other founding shareholders.
• The EUR-700-million factory HoloSolis plans to build will have the capacity to produce 10 million solar panels annually.
• Employing approximately 1,700 people, the factory is expected to be open by 2025.
• German family-owned technology group Heraeus Holding GmbH purchased a stake in HoloSolis less than a month prior to Armor Group’s investment.