Geroa acquires a participation in the capital of Holaluz

• Virginia Oregui, manager of Geroa, joins the board of directors at Holaluz, adding to the company her track record and experience in fast-growing investments.
• This is the first step to complete the overall €50 million investment announced by Holaluz at the beginning of the year.

Barcelona, September 4, 2019. - Holaluz has reached an agreement with Geroa whereby the supplementary pension entity provides a capital increase. The agreement involves the entry of Virginia Oregui, director of Geroa, on to the board of directors at Holaluz. The arrangement advances Holaluz in its €50 million investment round which will close before the end of the year. Further announcements will be made in the coming weeks.

“Adding a partner like Geroa gives us much more than money. Virginia Oregui leads a business that has proven experience in high-growth companies. Geroa shares our vision to give meaning and purpose to companies so that they can become tools to make the world a better place,” said Carlota Pi, co-founder and exectuvie president of Holaluz.

Geroa, based in San Sebastián, manages the savings of around 110,000 workers and has assets of more than €2,150 million. “Being able to take part in a success story like Holaluz is a great opportunity for us and our participants,” said Oregui. She added: “Holaluz is an innovative and disruptive project that we can expect a lot from in the future”. The investment round will be used to accelerate Holaluz’s growth as well as forward the company’s vision of self-consumption by completing 1,000 photovoltaic installations by the end of the year.

Geroa is committed to investing in socially responsible companies, a fact which is supported by the fund’s investment in Holaluz whose mission of the company is to supply 100% of our energy needs through renewables. This objective is furthered by Holaluz’s marketing of green energy, customer savings (thanks to the intensive use of technology and data) and an honest approach to people.

The majority of the shares remain in the hands of the company’s founding partners (Carlota Pi, Oriol Vila and Ferran Nogué). Axon Partners, which invested in 2016, and Geroa hold minority shareholdings.