Gimv and SRIW invest in Lampiris, green energy supplier - Aim for Lampiris to continue to grow and become the largest independent operator on the Belgian market

14/06/2013 - 07:30 | Portfolio

Gimv and SRIW are jointly investing EUR 40 million in Lampiris, a green energy supplier. Lampiris will use the fresh capital to enhance its balance sheet and fund its ongoing growth. This will enable Lampiris to achieve its ambition to become Belgium's leading independent supplier of gas and green electricity.

The Belgium based Lampiris was set up by Bruno Vanderschueren and Bruno Venanzi in 2003. The company now has more than 770,000 subscriptions (for individuals, companies and the public sector) to which it supplies gas or 100% green electricity. The business focuses primarily on Belgium, but Lampiris also obtained a licence in 2011 to supply gas in France; as a result, it can now also offer a combined energy package (gas and electricity) on the French market. Lampiris currently has a workforce of 170. With a market share of roughly 9% in the gas market and 6,5% in the electricity market, Lampiris is the third largest energy supplier in Belgium, but has posted the highest growth figures in the energy market every year (sources: CREG, VREG, CWAPE) since its launch in 2005. Lampiris recorded a turnover of EUR 695 million in 2012, representing a 82 percent increase on 2011. The number of subscribers increased by 55 percent - to 655,034 - over the same period. The company is now seeking fresh capital to fund this expansion and to enable it to capitalise rapidly on future opportunities in the energy market.

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