Boostheat lists on Euronext

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Paris  – 9 October 2019 – Euronext today welcomed heat pump manufacturer Boostheat to its regulated market in Paris.

 

Founded in 2011, Boostheat designs, develops, manufactures and sells an entirely new generation of boilers—more efficient, more economical and more sustainable—that is strategically positioned to address the challenges arising from the energy transition.

Its first product, the Bootheat.20, is a comprehensive heating solution that combines the reliability of condensing boiler technologies with the efficiency of a heat pump. Equipped with a patented thermal compressor, the Boostheat.20 cuts energy consumption and CO2[1] emissions by up to 50%. The company has 96 employees[2] and its own Industry 4.0-driven manufacturing facility at Vénissieux near Lyons—the birthplace of today’s heating, ventilation and air-conditioning industry—on a 7,000 sq m site where it assembles its products in-house from start to finish.

Boostheat (ticker code: BOOST) was listed on 9 October 2019 through the admission to trading of the 8,702,078 shares making up its capital, including 2,500,000 new shares issued as part of a Global Offering[3] before potential exercise of an over-allotment option.

The offering price was set at €14.00 per share. Market capitalisation on the day of listing was €121.8  million, and the operation raised a total of €35 million.

Boostheat CEO and co-founder Luc Jacquet said: “This IPO is designed to generate the financial resources Boostheat needs to implement our growth strategy. It will allow us to step up our international marketing and sales, pursue R&D initiatives, and expand our range of products and services. Heating is at the heart of the world’s environmental challenges, and today we are proud to bring the values of the new energy era to Euronext Paris”.

With 62 CleanTech SMEs now listed on Euronext markets, and more than €2.3 billion raised since 2016, Euronext is the leading stock exchange for companies driving the environmental transition.

 

Bell ceremony

Caption: Luc Jacquet, Boostheat CEO and co-founder, and his team rang the bell this morning to celebrate Boostheat’s IPO.

 

[1] Company estimate based on results of tests conducted by external labs (CETIAT and Gas.be): 188% in aerothermal capture (A7) and 229% in geothermal capture (W10).

[2] At 30 June 2019.

[3] The Global Offering was made up of a Public Offering that included an Open Price Offer (OPO) in France and a Global Placement with institutional investors in France and other countries.

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