Water technology specialist Ecolab plans to invest €100 million ($116.5 million) in two major industrial projects in France that have been identified by the government as of strategic importance.
The company is investing in the proposed HoloSolis factory, a giant photovoltaic cell and module factory in the Europôle industrial zone in Hambach, northeastern France.
The facility is expected to be able to produce up to 10 million solar panels annually and support the development of a European solar energy production sector.
Ecolab is also investing in GravitHy, a project that aims to produce 2 million tons of low-carbon iron annually using a hydrogen-based direct reduction process.
The future facility, to be built in the southern port city of Fos-sur-Mer, aims to address the challenges of decarbonizing heavy industry and optimizing resource use in a sector with high demand for water and energy. It is expected to start in 2030.
Ecolab announced its investments at the Choose France Summit, where 71 investment announcements were made totaling €93 billion.
Christophe Beck, chairman and CEO of Ecolab, said that by investing in GravitHy and HoloSolis, the company is committing itself alongside companies that are reinventing the European industrial model.
“This is precisely our mission: to demonstrate that economic performance and sustainability are not opposing goals, but rather the two pillars of a resilient, future-oriented industry,” said Beck.
Other investors in the HoloSolis factory include Cales Technologies and Forming AG and Trina Solar.
