Can €40M Power France’s Battery Ambitions?

€40M backs France’s geothermal lithium shift from concept to field testing, advancing Europe’s battery independence

23 Feb 2026

France’s bid to secure its own lithium supply has entered a defining phase. Lithium de France, a subsidiary of Arverne Group, has raised €40 million from Arverne and Equinor Ventures to move its geothermal lithium project into pre industrial development.

Announced in September 2025, the Series B2 funding will support initial drilling and the construction of a direct lithium extraction demonstration plant. The transition marks a shift from early validation work to hands on field operations, where technology must prove itself under real world conditions.

The new capital reshapes the company’s ownership structure. Arverne Group now holds a clear majority stake, while Equinor Ventures maintains a significant minority position, reinforcing the project’s financial backing and technical depth. Together, the partners bring experience from both emerging geothermal ventures and established energy markets.

At the center of the effort is direct lithium extraction, or DLE, a method that filters lithium from geothermal brine rather than relying on open pit mines or sprawling evaporation ponds. The technology promises a smaller surface footprint and faster processing times, but its commercial reliability remains untested at scale. Demonstration plants serve as critical proving grounds, measuring whether output meets the strict purity standards required for electric vehicle batteries.

The timing reflects a broader European push to localize critical mineral supply chains. Governments and manufacturers are eager to reduce dependence on overseas lithium sources as demand for electric vehicles and energy storage systems climbs. Although company statements stop short of citing specific EU frameworks, the strategic alignment is unmistakable.

The coming months will be decisive. If drilling and pilot operations deliver consistent results, the project could attract further investment and secure offtake agreements with battery makers. For now, the €40 million injection signals that France’s geothermal lithium ambitions are no longer theoretical. They are moving from blueprint to bedrock, where execution will determine whether promise becomes production.