Total Acquires French Energy Efficiency Company Greenflex

By Alberto Delclaux Features Dow Jones Newswires

Total SA (FP.FR) said Tuesday that it would acquire Greenflex, a French company specializing in energy efficiency.

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Greenflex was founded in 2009 and is expecting revenues of more than 350 million euros ($418.1 million) for 2017, according to Total. The company helps clients manage energy consumption more efficiently via data intelligence and equipment management.

"Climate challenges are integrated into Total's strategy," said Total's gas, renewables & power president, Philippe Sauquet. "This acquisition in energy efficiency services is fully aligned with this strategy."

The acquisition is expected to close in the fourth quarter, said the French oil-and-gas company.

The value of the deal was not disclosed.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

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(END) Dow Jones Newswires

September 19, 2017 04:43 ET (08:43 GMT)