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."
Our year in review
Looking back on a year of resilience, ingenuity and achievement.Our year in review - L1 Energy
Net assets under management (31 Dec 2021)
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