L1 Energy

A global leader in the transition to safe, sustainable energy

The world needs energy, but energy production needs to change. LetterOne (L1) is building a safe, sustainably growing energy group, recognised as a partner of choice in its industry and enabling the transition to a lower-carbon and more circular economy. We continue to look for active investments that can power society for the long term.

"Investment activity in the circular economy is significant and on the increase, as customers become ever more thoughtful about plastics, waste and the full cycle impact of all of our lifestyles."

Tim Summers

Our year in review

Looking back on a year of resilience, ingenuity and achievement.

Our year in review - L1 Energy

$ 6.0 bn

Net assets under management (31 Dec 2021)

Insight

LetterOne invests in Tigo Energy

NEWS 10 Jan 2023 2 mins

The L1 Energy team

Tim Summers

Managing Partner - L1 Energy

Dmitry Avdeev

Senior Partner - L1 Energy

Francis Sommer

Partner - L1 Energy

Alexander Ruffman

Vice President

Antoine Bonhert

Analyst

Explore portfolio

In May 2019 L1 Energy and BASF joined forces in the largest oil and gas merger for a decade. Together, we created Wintershall Dea – the world's leading privately held energy company. L1 holds 33% of Wintershall Dea, with a 70% bias towards gas.

LetterOne has invested in Plastic Energy, the industry leader in the chemical recycling of end-of-life plastic waste

L1 Energy has invested in H2scan, a world leader in providing hydrogen sensors for electricity utilities and industrial markets

L1 has invested in Tigo Energy, a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems.

L1 Energy made an investment into Breakwater Energy, a newly incorporated subsidiary of EIG, which acquired a 25% interest in Repsol Upstream. Repsol Upstream comprises the entire global upstream oil and gas business of Repsol.

https://www.repsol.com/content/dam/repsol-corporate/en_gb/accionistas-e-inversores/cnmv/2022/ii07092022-agreement-for-the-acquisition-by-eig-global-energy-partners-of-25-percent-stake-in-repsol-exploration-and-production-business.pdf

Our businesses

L1 Energy

L1 Technology

L1 Health

L1 Retail

L1 Treasury

The world needs energy, but energy production needs to change. L1 is building a safe, sustainably growing energy group, recognised as a partner of choice in its industry and enabling the transition to a lower-carbon and more circular economy. We continue to look for active investments that can power society for the long term.

L1 Energy

We are long term growth investors in telecoms and technology – with no fixed investment time horizons and significant funding available of our own patient capital. We believe this is a sector of vital, sustainable social and economic importance.

L1 Technology

L1 Health partners with entrepreneurs and industry executives to invest in platforms that are propelled by powerful, long term global trends and have the potential to transform healthcare and improve lives.

L1 Health

L1 retail is a differentiated investor with a longer-term horizon than many. We look for platforms that can be positioned for strong, sustainable growth over ten years and beyond.

L1 Retail

L1 Treasury manages the liquidity and financial investments of L1 Investment Holdings. When the Group makes strategic investments, L1 treasury provides the necessary funds, whereas where investments are sold or dividends received, L1 Treasury manages the available funds.

L1 Treasury