ENERGY CONNEX: ENERGIES WERE THE KEY TO CHENEREAL’S RECOVERY
ENERGIECE, France — Enrico Guidi, head of the company’s energy division, has described a key role played by two former executives at ENERGEN, a French energy company founded by brothers Sebastien and Pierre-Yves Guidi.
In a new book, Guidi said his team was forced to take decisive action in the wake of the devastating 2011 earthquake and tsunami, after the Guidi family’s energy company suffered the worst financial crisis in its history.
The company was founded by the Guids in 1982 and the company was valued at more than $100 billion by the end of 2016.
While many companies were reeling from the loss of jobs and billions of dollars in assets, Guadi said, ENERGEK was in a unique position because of the Guidis’ investment in their company.
The Guids invested in ENERGES, which was spun off as ENERIGE Energy, a unit of ENERMAX in the United States.
The family invested heavily in their investment, Guidi said, and made a lot of good investments.
But in a few years, the family lost a large amount of money.
In 2016, the company had $5.5 billion in debt.
The company had already missed its first profit for two years.
On April 1, 2017, the Guided Companies of France (GCEF) filed for bankruptcy.
Guidi said the financial situation for ENERGOE, a company that was based in France, deteriorated so rapidly that it had to seek help from outside the country.
“It was not the company, but the family, that was in trouble,” Guidi told AFP.
ENERGEZER was one of the largest private companies in the world at the time, with $50 billion in assets and revenues of $4.3 billion.
For Guidi and his team, it was an opportunity to get back on its feet, he said.
The company is currently working on a new product to solve some of the biggest problems facing ENERIE, including the need for a new fuel that is more environmentally friendly and less polluting than natural gas.
“It’s the right time to bring ENERAGE to the market,” Guadi told AFP, adding that the Guidas would make the new fuel more environmentally-friendly.
He also said the company would focus on developing a new energy platform.
“I think ENERLEC is going to be a lot more efficient than natural-gas.
ENERINE is very efficient, but ENERCE is a lot better.
I think that ENERICE will be more efficient,” he said, adding he would look at adding some solar power to the platform.
Meanwhile, the energy company was planning to launch an innovative new product called ENERGLIDER.
It would use solar panels and wind turbines to generate electricity, Gudi said, while reducing CO2 emissions by up to 30 percent compared with conventional power plants.