History
2019
The foundation
PEARL was born from the common experience of our founding partners, forged among leaders in environmental utilities, renewable energies and waste, as managers, experts or entrepreneurs.
PEARL was launched in partnership with Edmond de Rothschild Private Equity, as a private equity fund dedicated to the energy transition, circular economy and environmental impact.
A partner member of Edmond de Rothschild Private Equity, alongside other specialised investment teams, PEARL is part of a responsible and long-term approach, based on the belief that performance and sustainability go hand in hand.
Q1 2020
PEARL raises its first fund
PEARL I completed its final closing in March 2020.
Investments are made by majority ownership in new projects (greenfield) and the optimization of existing assets (early-brownfield) in the field of renewable energies such as “baseload” (electrical and thermal), energy efficiency and the circular economy.
They trusted us:
The European Investment Bank, within the framework of the European Fund for Strategic Investments, also called the “Juncker Plan”, is a strategic investor having invested 40 million euros.
The Bank of Territories, Caisse des Dépôts et Consignations, is also a strategic investor in PEARL I.
Q1 2021
Deploying PEARL I
PEARL invested all of this fund between December 2020 and June 2022 through the acquisition and construction of seven assets.
Three clusters of autonomous assets have been set up in France, Germany and Croatia, thus having their own operational teams.
The platform, which consists of biomass cogeneration plants, focused on the decarbonization of industry and European electrical and thermal mixes.
Q3 2022
Emergence of a second vintage
PEARL II was launched in August 2022 for a final closing in June 2025.
Continuation of PEARL I's strategy in Europe with an evolution towards the production of biogas, solid biofuels, liquid biofuels and geothermal energy. PEARL II also integrates flexibility and energy storage infrastructures, including an essential digital dimension for the management of energy assets.
They trusted us:
The European Investment Fund, in particular through its InvestEU program, is a leading strategic investor with an investment of 100 million euros.
Q1 2026
Deploying PEARL II
As of January 1, 2026, PEARL II has already invested in four companies in France and Norway, ensuring half of the fund's deployment in sectors that contribute directly to the energy transition and European sovereignty: biomass cogeneration, solid biofuel production and hybrid infrastructures contributing to flexibility and energy storage.