Exor focus on renewable. The Holding of the Agnelli family, led by the managing director John Elkann e Impala, an investment company controlled by Jacques Veyrat and his family, have joined forces to support the development of TagEnergy, a rapidly growing company in the renewable energy and energy storage sector.
To accelerate TagEnergy's future growth, the two companies have created one new joint holding, TagHolding, which will become the main shareholder of TagEnergy.
What is TagEnergy
TagEnergy was Founded in 2019 by Franck Woitiez and Jacques Veyrat and has its headquarters in Lisbon.
The company owns a rich project portfolio which are in various stages of planning, construction or operation in Australia, the United Kingdom, Portugal and other European countries. It operates in all aspects of renewable energy, including the financing, design, construction and operation of wind and solar projects. It also provides solutions for energy storage and grid stabilization.
Exor says TagEnergy is well positioned to reach out 5GW of renewable power by 2027, thanks to projects already in operation or under development, in countries that have made a long-term commitment to the decarbonisation of their economies.
“In recent years we have increased our focus on ESG, with particular regard to the issue of energy transition, essential for achieving a future without CO2 emissions. With the growing electrification of large sectors of the economy, the development of renewable and zero-emission electricity sources is more necessary than ever. Added to this will be the growing need to conserve intermittently generated power and to stabilize grids that were previously designed for more concentrated and controllable centers of generation,” he said. John Elkann, Ad of Exor.
“Like Impala we supported TagEnergy since the beginning, strongly believing in their pragmatic and entrepreneurial approach aimed at the development and direct investment in the renewable energy markets. The partnership with Exor will allow us to further support TagEnergy's ambition which aims to expand into different countries of the world and finance the promising projects that its team is currently developing” he commented Jacques Veyrat, Ad of Impala.
"We are pleased to welcome Exor into the TagEnergy family. Exor has a proven track record of helping companies grow responsibly and successfully,” he added Franck Woitiez, CEO of TagEnergy- "Your investment, together with the support of Impala, represents a strong act of confidence in our strategy and our approach in the field of renewable energy".
Exor also invests in innovation
Exor has invested in Optalysys, a British startup developing optical computing hardware for big data processing. The company stands sdeveloping an innovative technology in the field of silicon photonics, with optical chips that use light, not electricity, to perform calculations. This technology is considered "breakthrough" and is particularly well suited for new types of encryption that will allow for more private and secure data sharing between companies and countries.
Leeds-based Optalysys recently completed a £21m Series A funding round led by the Ingot, an investment company owned by Exor.
