The FINANCIAL — NYSE Euronext announced the listing on NYSE Alternext in Paris of EO2, a major player in renewable energy with a focus on forest biomass.
Founded in 2006, the EO2 Group is one of France’s top contenders in wood pellets, a clean and renewable fuel made as a forestry by-product and used for boilers and wood stoves operated by individual households and collective entities.
EO2 was listed through admission to trading of the 2,631,705 shares making up its capital, transferred from the Free Market to NYSE Alternext. Market capitalisation stood at around €9 million on the day of listing.
“We are delighted with EO2’s transfer to NYSE Alternext, our made-to-measure market for small and medium-sized companies,” said Marc Lefèvre, Head of European Business Development and Client Coverage Listing Europe at NYSE Euronext. “Today EO2 is entering a new stage in its relationship with the stock exchange, through a strategic choice that will give it access to more investors and a higher profile.”
Guillaume Poizat, Chairman and CEO of EO2, added: “Our move to NYSE Alternext reflects our ongoing focus on wood pellets, a market reporting annual growth of over 25% a year in the past five years. In 2012, sales of heating pellets are running well above projections. With this eco-friendly alternative to fossil fuels which is also significantly less expensive, our company and products are one of the energy market’s most efficient solutions. In a period of economic crisis, EO2 Group is thus guaranteed market growth in the years ahead, along with high visibility.”
As NYSE Euronext said, in seven years, €2.7 billion has been raised on NYSE Alternext, half through secondary issues, by companies from countries including Belgium, Canada, China, France, Italy, Luxembourg, the Netherlands, Spain, the UK and the US. Their market capitalisation totals €6 billion. Today 179 companies are listed on NYSE Alternext.