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Impala and Exor join forces to develop TagEnergy

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Cyann Fielding

Journalist at Tank Storage Magazine.

Impala and Exor have announced a new joint venture, TagHolding, to develop TagEnergy, a fast-growing company operating in the renewables and energy storage sectors. TagHolding will be TagEnergy’s largest single shareholder

Jacques Veyrat, Impala’s CEO, says: ‘I am very excited to partner with Exor, a firm that shares Impala’s values and a common vision of responsibility towards the energy transition. At Impala, we have been supporting TagEnergy from the very beginning as we firmly believe in their hands-on, entrepreneurial approach to developing and investing directly in the renewable energy markets. Partnering with Exor will enable us to further support TagEnergy’s ambition to expand in multiple regions across the globe and finance the promising projects the TagEnergy team is currently developing.’

John Elkann, Exor’s CEO, adds: ‘We have increased our focus in ESG in recent years and particularly in the energy transition essential for achieving a decarbonised future. As large sectors of the economy become increasingly electrified, the development of renewable, carbon-free sources of electricity is more necessary than ever. This will be coupled with a growing need to store intermittently-generated energy and stabilise grids that were previously designed around more centralised and controllable production centres. In joining forces with Jacques Veyrat and the TagEnergy team, who have proven their deep knowledge of the sector and their long-term commitment to building a great company, we are choosing to support an outstanding team in dynamic geographies with great potential.’

Franck Woitiez, TagEnergy’s CEO, comments: ‘Having both Impala and Exor as partners and shareholders, alongside Mirova and Omnes, will bring us additional financial means to execute and accelerate on our strategic priorities and drive the pace of the energy transition through projects that deliver reliable energy affordably, and at scale.’

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