FHE Group raises €15m to expand its energy solutions - Entrepreneur Magazine - Occitania

Demonstrating the interest in technologies that reduce carbon emissions is the activity of Perpignan-based FHE Group (80 employees), which grew from €3 million to €12.5 million between 2021 and 2022. The company produces solutions for off-grid energy production and consumption optimization for residential renovations. She convinced investment funds Yotta Capital Partners and BNP Paribas Développement, which gave her 10 million euros to finance her growth in the ever-growing innovation market. The operation is complemented by a bank loan of 5 million euros.

The first innovation from FHE

The first innovation from FHE is to direct its products towards a fully integrated thermal system. After heat pumps, the company is preparing to launch its first series of solar panels. Using a common protocol, they will be able to interact with Inélio, FHE's proprietary technology capable of managing excess production to store it throughout the day. "In this way, all the electricity produced will be consumed locally," emphasizes FHE director Oren Laloum. Following successful tests, the launch of this series is scheduled for November.

The main innovation from FHE, however, is the new developments around the Inélio system itself

While the company originally intended this technology for developers and builders, including as part of the energy renovation of housing, it faces current challenges in the real estate market. Therefore, FHE is looking for other opportunities by utilizing two features: the ability to produce cold (in addition to heating and hot water) and the ability to operate autonomously. The new direction found concerns mobility: Inélio, together with solar panels, will be able to cool areas without access to electricity.

This new product, whose production will start in 2024, is already of interest to African partners. FHE's production facility in Morocco is to increase its capacity from 300 to 1,500 units per month in the long term. "We want to offer toolmaking a new mass market," confirms Oren Laloum. The Perpignan SME organization, with new perspectives, aims to increase its turnover from 80 to 100 million euros in five years. This growth strategy also requires greater territorial coverage. FHE has so far relied on a network of distributors (present in Brittany, New Aquitaine and Occitanie) and for Occitanie manages a network of agencies for direct sales to its customers and partners. "We want to get even closer to them as the FHE range grows," points out Oren Laloum. In total, around 20 people will be hired to strengthen the commercial position.

The FHE will also invest 4.8 million euros, some of which will be financed by raising investment, in the construction of new premises. The group will build more than 4,000 square meters of land in Rivesalta after acquiring a 9,900-square-meter plot of land. It will bring together two historic FHE sites in Perpignan, near the airport and in the Technosud area. "We will dedicate more than 1,000 square meters for training, hosting schools and offering other services," explains Oren Laloum, who expects the new facility to be completed by 2025.