On October 9, 2021, the Floridienne Group announced that it had signed a binding agreement to increase the capital of its subsidiary SNAM, Europe’s leading recycler of industrial and automotive (hybrid and electric) batteries.

The capital increase, which will be carried out with the support of a German investor, is for a total amount of €10 million, which may be increased up to €14 million based on a pre-money value of €40 million.