Ardian, EDF funnel €300M into oil storage company Géosel
March 11, 2021
French firm Ardian and EDF Invest have put €300 million in oil storage operation Géosel via their joint subsidiary, Transport Stockage Hydrocarbures. Géosel is the largest storage site for liquid hydrocarbons in France and the second-largest in Europe. The new financing will be used by Géosel to maintain its facilities and enhance safety standards. The capital will also go toward modernizing the company's assets to accommodate biofuels and energy transition projects.