ARMOR GROUP, new shareholder for HoloSolis

November 13, 2023

ARMOR GROUP, new shareholder for the company HoloSolis

HoloSolis is one of a number of initiatives aimed at re-industrialising Europe at a sustained pace and meeting Europe’s de-carbonisation targets. The company, which was founded in 2022, is working to set up a giga-factory for photovoltaic cells and panels in Hambach, in the Sarreguemines Confluences conurbation. It is due to come on stream in 2025, with a cruising speed production capacity of 5 GW per year, or 10 million modules produced annually, equivalent to the energy needs of one million homes.

ARMOR GROUP invests in HoloSolis

ARMOR GROUP has been actively deploying renewable energy and energy storage solutions to combat climate change for 15 years, and is today announcing that it is acquiring a share in HoloSolis. It is one of the first companies to join the founding shareholders: EIT InnoEnergy, IDEC group and TSE. Its equity stake of around 20% of the capital already invested gives it a seat on the supervisory board. The German group HERAEUS also recently announced a stake in HoloSolis.

I am really delighted that ARMOR GROUP is joining HoloSolis. It’s an ambitious and necessary project. Along with its founders, we share the strong conviction that solar energy is one of the keystones of the energy transition and the re-industrialisation of France and Europe. Following the construction of our new factory dedicated to battery components near Nantes, a project of this kind is a further building block in ARMOR GROUP’s efforts to restore our energy sovereignty, and a generator of jobs that cannot be relocated, two principles that we have been defending for many years.” states Hubert de Boisredon, CEO of ARMOR GROUP.

I am personally very pleased that ARMOR GROUP has decided to join our company. A century-old manufacturer, it is a key player in the solar industry and a medium-sized company committed to energy transition. We are delighted to make them our partner.” says Jan-Jacob Boom-Wichers, Chairman of HoloSolis.

Technical and industrial union

With 15 years’ experience in solar energy through its organic photovoltaics (OPV) business, ARMOR GROUP’s contribution will also be of a technical and industrial nature. Firstly, ARMOR GROUP will be able to contribute to the development of new-generation solar panels equipped with tandem-perovskite cells on silicon, which promise higher yields than current silicon cells. These materials, on which ARMOR GROUP’s R&D teams have already begun work, are not yet sufficiently stable to be industrialised on a large scale. The Nantes-based international medium-sized company's advanced expertise in thin-film deposition, a key technology for the development of the latest generation of photovoltaic cells, will be a major asset. The work already carried out by ARMOR GROUP should help accelerate these developments.
In addition, the company will draw on its knowledge of the French, German and wider European markets to support HoloSolis’ commercial development. Lastly, by acquiring a stake in the company, ARMOR GROUP undertakes to participate in the development of its industrialisation capacity, in particular through its expertise in machine commissioning and recruitment support.

After concentrating our efforts for several years on OPV, which has proved to be a very promising but still immature technology, we have decided to focus our efforts on new-generation modules, because solving the climate crisis cannot wait and the need to act is urgent. We’ll be putting our 15 years of experience and R&D in the solar industry at HoloSolis’ disposal to ensure the success of the project.” explains Hubert de Boisredon.

Our ambition is to rebuild a French and European photovoltaic industry capable of responding to the power of China. With this in mind, we are putting together a “solar team” combining expertise and commitment, with a clear strategy, rapid decision-making and control of the investment cycle in the technologies of the future and sustainable energies. We are looking for pioneers and builders, and ARMOR GROUP’s strong entrepreneurial temperament and industrial vision strengthens HoloSolis”, explains Jan Jacob Boom-Wichers, Chairman of HoloSolis.

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