Date: 26.02.2024

Based on an assessment of its strategic objectives and opportunities for further expansion, CE Industries has decided to sell its stake in Advance Energo. The company specializes in EPC projects and energy savings implementation for companies and public administrations. Advance Energo is being acquired from CE Industries by VEOLIA CZECH REPUBLIC and will be part of the Veolia Energie group, which focuses on EPC projects in addition to supplying heat and other energy commodities.

"Over the last three years, Advance Energo has managed to assemble a team of professionals with experience in implementing EPC projects and has gained references on interesting energy saving projects from industrial enterprises and public administration. For example, the EPC project implemented at the Kutná Hora Hospital guarantees at least a 40 percent reduction in energy consumption for this facility," says Adam Šotek, Chairman of the Board of CE Industries.

Advance Energo, which was originally founded as a start-up, has already completed dozens of successful energy saving projects at various locations in the Czech Republic. Among the biggest ones, apart from the EPC project at the Kutná Hora Hospital, are the greening of the heat management, including the construction of a cogeneration unit at the Sigma industrial complex in Hranice na Moravě. The addition of Advance Energo to a strong multinational energy group will enable the company to further develop and expand in a dynamically growing segment.

"With the acquisition of Advance Energo, we will strengthen our position in the provision of energy services in a significantly growing market. The company will continue to focus on business and implementation activities in the field of energy services, energy construction and especially EPC projects, but also in the field of new energy based on renewable sources and state-of-the-art technologies. In many cases, it is not only about savings, but also about decarbonisation and reducing environmental impacts," added Jakub Tobola, Veolia Group's Chief Commercial Officer.

Energy remains one of the strategic pillars of CE Industries' business, even in view of the planned construction of new nuclear power plants in the Czech Republic. The Group is primarily developing its Chemcomex and MICo companies in this area.