IDEX

What IDEX does

IDEX is a France-headquartered, vertically integrated local energy operator that develops, finances, builds, and operates low-carbon energy infrastructure for buildings, cities, and industry. The company's production stack draws on local renewable and recovered sources — household waste via energy-from-waste plants, biomass, deep and surface geothermal, solar PV, and recovered industrial heat — distributed through 83 owned heating and cooling networks to 18,000 maintained buildings. Downstream of production, IDEX supplies green electricity and biomethane through its Save Énergies subsidiary (15,000 delivery points, 12 TWh/year), runs Energy Performance Contracts and third-party-financed renovation programs, and provides multi-technical facility management and industrial utilities (steam, cooling, compressed air, cogeneration). Customer segments span industry, state and local government, private tertiary, healthcare, and residential, served through 110 local agencies across France, with international operations in Belgium (Go4Green, FABEM JV with Alteo) and Lithuania (Idex Baltic). The company employs approximately 6,500 people, generated €2.1 billion in 2025 revenue, and has been owned by Antin Infrastructure since 2018, with Benjamin Fremaux as CEO and Antoine Pellion as Deputy CEO in charge of development. Technology differentiation rests on a digital-twin-based AI heating-cost individualization partnership with Kocliko, predictive optimization of building energy use, and a 250 MWp solar pipeline integrated with EV charging infrastructure.

Name

IDEX

Legal name

IDEX SERVICES, SAS

Website

http://www.idex.fr/

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

IDEX is a French vertically integrated low-carbon energy operator that produces, distributes, and optimizes local renewable heat and electricity for buildings, cities, and industry across France, Belgium, and Lithuania, serving 18,000 buildings and 15,000 energy delivery points.

Ownership category

akta.pro rank

Product category

District Energy & Low-Carbon Infrastructure Services

NAICS

Steam and Air-Conditioning Supply (221330), Electric Power Generation (22111), Biomass Electric Power Generation (221117)

SIC

Cogeneration Services & Small Power Producers (4991), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Biofuel Plant EPC, O&M & Process Technology Providers (EUAAAHAK)

akta.pro secondary industries

Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF), Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR) (EUAGABAI)

Keywords

• District heating networks
• Energy performance services
• Local renewable energy
• Industrial decarbonation solutions
• Energy efficiency contracting

Headquarters

HQ city

Boulogne-billancourt

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Energy Production and Distribution: IDEX generates revenue from operating energy production facilities (waste-to-energy plants, biomass boilers, geothermal systems) and distributing energy through owned heating and cooling networks. Revenue is derived from long-term concessions and delegated management agreements with municipalities and industrial clients, providing stable, recurring income streams.
2. Energy Performance Contracts (CPE): Performance-based contracts guaranteeing energy savings to clients. IDEX finances, designs, and implements modernization and renovation work, recouping investment through shared savings over contract duration. Provides visibility on long-term revenue with performance risk shared with client.
3. Third-Party Financing (Tiers Financement): IDEX finances energy transition projects for clients, spreading installation costs over several years while maintaining operation and maintenance responsibilities. Revenue is generated through energy savings achieved and contract duration.
4. Energy Supply (via Save Énergies): Through subsidiary Save Énergies, IDEX supplies green electricity and biomethane to businesses and municipalities. Revenue from volume-based energy sales with 15,000 delivery points under management and 12 TWh of energy supplied annually.
5. Industrial Utilities Services: Design, installation, and maintenance of industrial utility production facilities (steam, cooling, compressed air, electricity, hot water). Revenue from project fees and ongoing maintenance contracts with industrial clients.
6. EV Charging Infrastructure (IRVE): Installation and operation of electric vehicle charging stations. Revenue from equipment installation fees and ongoing operation/maintenance contracts, plus energy sales to EV users.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

IDEX develops, designs, finances, builds, and operates local low-carbon energy infrastructure that produces heat, cold, and electricity from waste, biomass, geothermal, and solar resources, and distributes it through district heating and cooling networks to residential, tertiary, industrial, and public-sector customers. The company also supplies green electricity and biomethane, delivers energy performance contracts (CPE) with guaranteed savings, manages industrial utilities (steam, cooling, compressed air, cogeneration), and provides multi-technical facility management. Its offering covers the full value chain from production to end-use optimization under a single integrated operator.

Product overview

IDEX operates as a vertically integrated operator across the entire local low-carbon energy value chain in France and internationally. Its portfolio spans five interconnected core pillars: (1) Energy production from local renewable and recovered sources — including district heating/cooling networks, waste-to-energy plants, biomass boilers, geothermal systems, and solar photovoltaic infrastructure; (2) Energy supply through its Save Énergies subsidiary, offering green electricity, biomethane, and innovative procurement instruments (PPA, BPA, Bloc+Spot hybrid contracts); (3) Building energy management encompassing energy performance contracts, intelligent piloting, heat pumps, and heating cost individualization via the Kocliko platform; (4) Industrial utility services including cogeneration, steam, cooling, and compressed air; and (5) Multi-technical and facility management through the MUST subsidiary. The company also operates electric vehicle charging infrastructure and connected solar parking solutions as modular add-on services. This architecture means clients can engage IDEX at any point in the energy chain — from production through supply to consumption optimization — using one integrated operator.

Differentiator

Problem solved

Functional benefit

Brands

• Save Énergies: Energy supply subsidiary providing electricity and biomethane solutions
• MUST
• Sérénélis
• Kocliko

Products and services

• District Heating and Cooling Networks Urban heating and cooling networks developed, financed, built, and operated by IDEX that distribute renewable and recovered energy (geothermal, biomass, waste heat, solar) to buildings via a short-circuit model. Sold to municipalities, social landlords, and building owners under 20–25 year concessions and DSP contracts.
• Energy from Waste Plants (Centres de Valorisation Énergétique) Waste-to-energy plants that convert household and industrial waste into heat and electricity, supplying renewable energy to district heating networks and the grid. Sold to public-sector clients (e.g., SMDO) and operated under long-term concessions.
• Biomass Energy Solutions Biomass boiler plants and combined heat and power (CHP) units designed, financed, built, and operated by IDEX to supply decarbonized steam, heat, and electricity to industrial clients and district networks. Includes joint-venture projects such as the €70M Brest biomass plant with Guyot Énergies.
• Surface and Deep Geothermal Energy Surface geothermal (GMI — probes and groundwater) and deep geothermal systems coupled with heat pumps, supplying renewable heating and cooling to buildings with up to 90% reduction in greenhouse gas emissions compared to gas. Sold to industrial, tertiary, and residential customers.
• Solar Photovoltaic Infrastructure
• Industrial Utilities (Steam, Cooling, Compressed Air, Cogeneration) Design, installation, operation, and maintenance of industrial utility production facilities including electricity cogeneration, steam and superheated water, compressed air, vacuum systems, and cooling for manufacturing clients. Sold to industrial enterprises.
• Energy Performance Contracts (CPE) Global energy performance contracts for buildings and industrial sites, combining audit, renovation works, third-party financing, and guaranteed energy savings. Sold to public-sector clients (e.g., Université de Bordeaux, CHU Amiens), healthcare operators (Groupe SOS Seniors), and enterprises.
• Multi-Technical and Facility Management Integrated multi-technical maintenance and facility management for buildings and industrial sites, covering HVAC, electrical, plumbing, green spaces, reception, security, and cleaning. Sold to enterprises, public-sector clients, and social landlords.
• Low-Carbon Energy Supply (Save Énergies) Through the Save Énergies subsidiary, IDEX supplies green electricity and biomethane to businesses and public clients. Includes Corporate Power Purchase Agreements (PPA), Biomethane Purchase Agreements (BPA), and hybrid Bloc+Spot contracts. Sold to enterprises and municipalities.
• MUST — Multi-Service Housing Solutions Through the MUST subsidiary, IDEX provides comprehensive multi-service technical management for social landlords, covering plumbing, electrical, carpentry, locksmithing, ventilation, and common-area maintenance across large housing portfolios. Sold to social housing operators.

Quantifiable outcome

• 20-60% energy savings achievable through modernization and renovation work
• +10 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability5 records

Feature4 records

Partnerships

13 partnerships are on record, tiered flagship, core and minor.

• Alteo GroupflagshipStrategic or Co-development Partner · 16 June 2026IDEX partnered with Belgian group Alteo to create FABEM (joint venture), accelerating deployment in the Benelux region. This partnership marks IDEX's strategic expansion beyond France into Belgium, focusing on decarbonation solutions.
• Charwood EnergycoreStrategic or Co-development Partner · 29 May 2025Charwood Energy secured two new biomass projects in partnership with IDEX. IDEX provides expertise in energy transition while Charwood contributes biomass project development capabilities.
• UCLouvaincoreStrategic or Co-development Partner · 28 May 2025IDEX partnered with UCLouvain university for the Mont-Saint-Guibert biomass power plant project in Belgium. First cornerstone laid June 2026, marking IDEX's entry into Belgian market.
• Guyot ÉnergiescoreStrategic or Co-development Partner · 11 March 2025Joint €70M investment in industrial biomass heating plant to supply the Bunge factory in Brest. IDEX and Guyot Énergies co-invest in this local, low-carbon energy production facility.
• Idex School (Training Partnership)minorOthers · 14 February 2025First anniversary of IDEX training class focused on energy transition. Partnership with educational institutions to develop talent pipeline for the energy transition sector.
• Save ÉnergiescoreTechnology or IntegrationSave Énergies is IDEX's subsidiary handling energy supply (electricity and gas) with all necessary Ministry of Energy certifications for supply across France. Manages 15,000 delivery points and 12 TWh annually.
• 250 Biomethane ProducerscoreTechnology or IntegrationNetwork of 250 biomethane producer partners supplying 3 TWh/year of French-produced biomethane with full traceability. IDEX aggregates this production for supply to end customers.
• Various Renewable Energy ProducerscoreTechnology or IntegrationNetwork of producers across biomethane, photovoltaic, and hydroelectric sources enabling IDEX to guarantee renewable and local origin of supplied energy with complete traceability.
• KOCLIKOcoreTechnology or IntegrationIDEX partners with KOCLIKO for AI-powered individualization of heating costs. KOCLIKO provides the intelligent, equitable heating cost allocation solution using digital twin technology, while IDEX handles financing, installation, and maintenance.
• KodikominorOthersPartnership with Kodiko association allowing IDEX employees to support refugees in their employment pathway during working hours. Part of broader diversity and inclusion initiatives.
• Tent FranceminorOthersIDEX joined Tent France coalition of 30+ companies committed to economic integration of refugees, since November 2023.
• ESATs and Sheltered CompaniesminorOthersPartnership network for supported employment of people with disabilities, including organizations such as TH Conseil, Gloria, and Café Joyeux.
• Elles BougentminorOthersAssociation promoting engineering and technical careers to young women; IDEX participates in school presentations through the Idex School Tour.

Scale indicators17 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Dalkia: Dalkia (subsidiary of EDF) is the leading French district heating and energy services operator, directly competing with IDEX in heating/cooling networks, energy performance contracts, and industrial utilities across France.
• ENGIE Solutions: ENGIE Solutions is the B2B energy services arm of the French utility ENGIE, directly competing with IDEX in district heating networks, multi-technical facility management, and energy performance contracts for industrial and public-sector clients.
• Veolia Environmental Services: Veolia operates district heating networks and waste-to-energy plants in France and Europe, overlapping with IDEX's core activities in waste valorization, biomass energy, and urban heating/cooling infrastructure.
• EQUANS: EQUANS (Bouygues subsidiary) is a major European multi-technical and energy services provider competing with IDEX in energy performance contracts, HVAC, industrial utilities, and building energy management.
• Coriance: Coriance is a French operator specializing in district heating and cooling networks from renewable and recovered energy sources, competing directly with IDEX on urban heating concessions and biomass/geothermal projects.
• Bouygues Energies & Services: Bouygues Energies & Services provides multi-technical building and infrastructure energy services in France, including district heating installations and energy efficiency contracts, directly overlapping with IDEX's building energy management offering.
• Eiffage Energie Systèmes: Eiffage Energie Systèmes is a major French energy services contractor delivering district heating, biomass, photovoltaic, and multi-technical services for public and private clients, comparable to IDEX's integrated energy infrastructure business.
• SPIE France: SPIE France provides multi-technical electrical, mechanical, and energy services including energy efficiency, EV charging, and photovoltaic installations, competing with IDEX in technical facility management and renewable energy deployment.

Broad incumbents

• Vattenfall Heat: Vattenfall Heat is one of Europe's largest district heating operators, primarily in Northern Europe (Sweden, Germany, Netherlands), offering a benchmark for IDEX's international expansion ambition in Benelux and adjacent markets.

Others

• METabolic / Saverglass: Metherma is a Dutch geothermal heat network operator and integrator adjacent to IDEX's geothermal and district heating business, illustrating the European player ecosystem IDEX is targeting via FABEM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/IdexEffEnerg
• YouTubeyoutube.com/c/IdexGroupe
• Facebookfacebook.com/Idexgroupe
• LinkedInlinkedin.com/company/idex-groupe
• Instagraminstagram.com/idex_groupe

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IDEX