ENOGIA signs first Green Shield Power Solutions industrial project with INEOS Group company Naphtachimie

• At Lavéra, waste heat from the industrial process will be turned into decarbonised electricity consumed on site, with no capital expenditure for the manufacturer

• A competitive Energy-as-a-Service model even in French heavy industry, generating recurring revenues and readily replicable

Marseille, 19 October 2026 – 8 a.m.

ENOGIA (ISIN code: FR0014004974 – ticker: ALENO), an expert in micro-turbomachinery for the energy transition, announces the signing of a long-term contract with Naphtachimie, an INEOS group subsidiary, at its Lavéra site near Marseille. This contract marks the launch of the first industrial project under the Green Shield Power Solutions offering, in line with the target set for 2026 under the Turbo 2028 plan.

At Lavéra, Naphtachimie’s industrial process continuously produces heat that the site cannot fully use, part of which is currently lost. ENOGIA’s ORC modules – designed and manufactured in Marseille, just a few dozen kilometres away – will capture this previously lost heat and convert it into decarbonised electricity consumed directly by the plant.  Commissioning will take place following the study, manufacturing, and integration phases, with the schedule to be finalised with the customer.

Signed for a minimum term of 10 years, the contract is managed by ENOGIA Assets Industry, an ENOGIA subsidiary jointly owned with ADEME Investissement. The signing marks the culmination of more than two years of joint work between the two neighbouring industrial operators.

Arthur Leroux, ENOGIA Chairman and CEO, said: “We have been working on this contract for over two years with the teams at Naphtachimie, which I would like to thank for their trust as well as their demanding standards. This contract demonstrates that a major industrial facility can turn heat that would otherwise be wasted into decarbonised electricity, without any capital expenditure and without altering its production process. It also proves that a Marseille-based industrial company can become an energy supplier to a global petrochemicals sector leader. Above all, it shows that our offering is competitive where the test is toughest: in France, where electricity is relatively cheaper than in neighbouring European countries, and in heavy industry, which already pays a comparatively low price for it. Industry dissipates considerable amounts of heat every day; we now have a robust model and an initial benchmark to recover it, site by site.”

Alexandra Loewenstein, CEO of INEOS group company Naphtachimie, said: “This project is based on a simple principle: making better use of energy that is currently wasted in order to improve our site’s energy efficiency. The model proposed by ENOGIA enables us to make concrete progress towards this ambition through an innovative service-based approach, providing a solution tailored to the constraints of an industrial facility like Lavéra.”

Green Shield Power Solutions: competitive, decarbonised electricity with no capital expenditure for the industrial customer

Green Shield Power Solutions is ENOGIA’s decarbonised energy supply offering for industrial companies. ENOGIA finances, installs and operates ORC modules on the customer’s site to convert waste heat into electricity. The manufacturer invests zero capex and buys the electricity generated over time at a price that remains competitive compared with grid rates.

For an energy-intensive manufacturer, energy is both a major cost item and the primary lever for reducing its carbon footprint. Green Shield Power Solutions provides Naphtachimie with local, decarbonised electricity derived from a previously wasted resource. The manufacturer improves its energy efficiency and reduces its carbon footprint without tying up capital or disrupting its production facilities, as the modules are operated by ENOGIA.

A competitive, profitable model set to be replicated

With this first industrial project, ENOGIA secures a flagship reference for Green Shield Power Solutions with a major global corporation at a site subject to the most demanding safety requirements.

Above all, the contract demonstrates the robustness of the model. The offering is competitive in France, where electricity costs are relatively lower, and within heavy industry, where sites already benefit from moderately priced power, while meeting the profitability criteria of ENOGIA and its financial partners. Balancing financial feasibility under such demanding conditions, this model durably supplements equipment sales with recurring revenue as an energy producer and is designed to be replicated across other energy-intensive industrial sites, both in France and internationally.

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2026 annual revenue: 11 February 2027 after trading

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