Strnad has sold the energy company Advance Energo to Veolia. He remains confident in the energy sector, but is focusing primarily on nuclear power

Jaroslav Strnad’s industrial group, CE Industries, is streamlining its activities in the energy sector. It has sold the energy services provider Advance Energo – with which it began building its energy division four years ago – to the French group Veolia.

CE Industries decided to sell its 100% stake following a review of its strategic objectives. Advance Energo failed to meet two of the group’s main criteria: it was not expected to become the third-largest player in the market and did not generate revenue exceeding 500 million crowns. In 2022, it generated revenue of just 145 million crowns.

Advance Energo was founded in March 2020 as a start-up and carried out dozens of energy-saving projects, including the modernisation of the hospital in Kutná Hora and the greening of the heating system at the Sigma industrial complex. The energy services sector has grown during the period of high energy prices.

CE Industries is not leaving the energy sector. According to the group’s CEO, Adam Šotek, it remains one of the strategic pillars, but is primarily focused on the nuclear industry through the companies Chemcomex and MICo, with an emphasis on new Czech reactors.