VOL-V

What VOL-V does

VOL-V SAS is a privately-held, founder-owned French investment and development company headquartered in Montpellier with a secondary office in Paris. Founded in 1996 by Cédric de Saint-Jouan, Arnaud Guyot, and François Bouffard, the firm originated as a developer of wind, solar PV, and biomethane assets in France, building a portfolio that reached roughly 1,700 MW before being divested to ENGIE (Biomasse, 2019) and CNR (Électricité Renouvelable, 2019).

Following these exits, VOL-V pivoted in 2020 to an evergreen investment model, deploying a €150 million program as reference or majority shareholder in French deeptech companies grouped around three poles: Hydrogen & e-fuels (e.g., Groupe Absolut, Bulane, Sakowin, Elyse Energy), Sustainable Agriculture (Mycea, Gaïago), and Energy & Innovation (Ecojoko, Oé, Absolut Sensing, Afreenergy). The firm provides capital alongside strategic governance participation, with the President often chairing strategic committees at portfolio companies.

VOL-V's revenue model rests on equity returns and capital appreciation from portfolio company exits, with the equity capitalization standing at €20,413,800 and no consumer-facing pricing. Its go-to-market is direct enterprise-grade investment origination, leveraging the founders' 25-year track record and French institutional network (Bureau français des e-fuels co-creation, EIC Fund co-investment) to source and support deeptech teams at early and growth stages. The current team of approximately 11-50 employees is led by the three co-founders, who retain direct strategic control.

Name

VOL-V

Legal name

VOL-V SAS

Website

https://vol-v.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

VOL-V is a Montpellier-based, founder-owned French investment firm backing early- and growth-stage deeptech companies in hydrogen and e-fuels, sustainable agriculture, and energy innovation through a €150 million deployment program.

Ownership category

akta.pro rank

Product category

Venture Capital / Private Equity

NAICS

Other Investment Pools and Funds (5259), Other Financial Vehicles (52599)

akta.pro primary industry

UCITS / Liquid Alternatives Fund of Funds (FSAHAKAE)

akta.pro secondary industries

Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Renewable Portfolio Optimization & Dispatch (Multi-Asset Scheduling, Curtailment Minimization) (EUAMAMAF)

Keywords

• Venture capital investment
• Deeptech equity investing
• Hydrogen technology financing
• Sustainable agriculture investment
• Renewable energy development

Headquarters

HQ city

Montpellier

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Investment returns and capital gains: VOL-V generates returns through equity investments in deeptech companies developing innovative solutions for energy and ecological transitions. The company takes equity stakes in French unlisted companies, acting as a reference or majority shareholder, and benefits from capital appreciation as portfolio companies scale and industrialize.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

VOL-V is an independent French investment company that deploys equity capital—through a 150 million euro program—as a reference and majority shareholder in French deeptech companies addressing energy and ecological transitions. Its activity is organized around three investment poles: Hydrogen & E-fuels, Sustainable Agriculture, and Energy & Innovation.

Product overview

VOL-V is an independent investment and development company focused on energy and ecological transitions. The company operates through three strategic poles: Hydrogen & e-fuels, Sustainable Agriculture, and Energy & Innovation. Rather than offering a unified software product, VOL-V functions as an investment vehicle that develops and holds stakes in portfolio companies across these three sectors. The company supports these participations with strategic guidance, financing, and operational expertise to help them scale.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Portfolio of approximately 10+ French deeptech companies across hydrogen, sustainable agriculture, and energy innovation sectors
• +1 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core.

• GaïagocoreStrategic or Co-development Partner · 1 September 2024VOL-V entered Gaïago's capital as a reference shareholder to support the company's soil revitalization solutions. Existing impact investors (Stellar Impact, Haltra, Edaphon, We Positive Invest) also participated in the capital increase to consolidate development and intensify soil revitalization efforts.
• SakowincoreStrategic or Co-development Partner · 1 February 2024VOL-V invested 2.5M€ in Sakowin's 4M€ funding round for methane plasmanalysis technology producing decarbonated hydrogen. Sakowin plans to launch an optimization program with 10 industrial partners in 2024 and commercialize a standardized 100kW module by end of 2025.
• Bureau français des e-fuelscoreStrategic or Co-development Partner · 1 July 2023Cédric de Saint-Jouan, President of VOL-V, participated in the creation of the Bureau français des e-fuels in July 2023. This organization brings together private actors active in the sustainable fuels ecosystem to promote a virtuous, competitive, and sustainable French e-fuels industry. The Bureau advises public and private sector actors to foster project development.
• BulanecoreStrategic or Co-development Partner · 1 January 2023VOL-V led a group of 4 investors in Bulane's 14M€ funding round. Bulane develops hydrogen combustion technology for industry and building decarbonation. The investment allows Bulane to structure teams, develop internationally, and migrate toward an energy sales business model.
• MyceacoreStrategic or Co-development Partner · 1 January 2023VOL-V invested 8M€ in Mycea, a Montpellier startup developing biosolutions for agriculture using fungal properties for biostimulation and biocontrol. Investment supports R&D, production industrialization, and field deployment at larger scales.
• Groupe AbsolutcoreStrategic or Co-development Partner · 1 November 2022VOL-V invested 12M€ in Groupe Absolut capital to support acceleration of development across its 4 subsidiaries (Absolut System, Absolut Sensing, Absolut Hydrogen, Absolut Quanta). The investment confirms the group's industrial transformation. VOL-V's President also serves as Chairman of Absolut's Strategic Committee.
• Elyse EnergycoreStrategic or Co-development PartnerVOL-V is co-founder of Elyse Energy, an e-fuels developer producing sustainable aviation fuel and e-methanol. VOL-V's President serves as Chairman of the Strategic Committee of Elyse Energy. The company develops e-carburants for aviation and maritime transport decarbonation.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Asterion Industrial Partners: European mid-market private equity firm investing in renewable energy, energy transition infrastructure, and decarbonized industrial businesses. Direct peer given European mid-cap focus on energy transition and operator-style investing in industrial assets.
• Breakthrough Energy Ventures: Bill Gates-backed early-stage venture fund (over $2B under management) investing in breakthrough technologies across hydrogen, sustainable agriculture, storage, and industrial decarbonization. Direct peer in deeptech energy transition thesis; differs in scale and US-anchored but operates overlapping portfolio categories such as hydrogen production and biological agriculture.
• Eiffel Investment Group: Paris-based investment platform managing debt and equity strategies across energy transition, infrastructure, and climate-tech private companies. Comparable to VOL-V given the private equity mandate, European/French geography, and exposure to transition assets and growth-stage industrials.
• Mirova: Paris-headquartered sustainable investment manager (affiliated with Natixis/Groupe BPCE) deploying capital into renewable energy, energy transition infrastructure, and sustainable growth equity across Europe. Directly comparable to VOL-V given the focus on private-market energy/ecology transition investing with a France/Europe bias.
• Demeter Partners: France-based early- and growth-stage investor focused on cleantech, energy transition, and environmental innovation, managing multiple funds across VC and growth capital. Most direct peer to VOL-V given shared French geography, similar ticket sizes, and overlapping thesis in hydrogen, bioeconomy, and low-carbon industrial technologies.

Broad incumbents

• Bpifrance: French state-owned public investment bank operating direct and fund-of-funds vehicles across all stages, including dedicated deeptech, hydrogen, and ecological transition programs. Overlaps with VOL-V's cleantech/energy mandate but operates at much larger scale and with broader sector exposure than a focused energy transition investor.
• Eurazeo: Paris-headquartered listed private investment group with growth, decarbonization, and infrastructure strategies including a dedicated decarbonization investment vertical. Comparable through European private equity format and energy transition exposure but broader scope including generalist buyouts.
• BNP Paribas Solar Impulse Venture Fund: BNP Paribas-affiliated venture fund backing sustainability, clean energy, and climate-tech startups across Europe. Compares to VOL-V given the focus on early-stage energy transition investing in Europe, but deploys within a broader bank-affiliated framework and is not founder-operated.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/groupe_vol_v
• LinkedInlinkedin.com/company/vol-v

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 VOL-V