Nexans and U.S. utility invest in French company using AI-powered grid analysis
Nexans has taken a minority stake in French AI start-up Sensewaves, investing alongside American Electric Power to accelerate deployment and global expansion of Sensewaves’ Adaptix.Grid platform, which unifies fragmented utility data to deliver real-time LV and MV grid visibility, optimization, and situational awareness across the full grid lifecycle.
Nexans secures €250 million from EIB for projects that include new plant in France
Nexans has secured €250 million in financing from the European Investment Bank, with over €90 million dedicated to a new copper production and recycling plant at its historic Lens site that will lift wire output by more than 50% and recycle up to 80,000 metric tons of copper annually by 2028. The Lens facility, already France’s only copper rod foundry, is central to France 2030 and REPowerEU goals and will increasingly supply Nexans’ cable output with on-site recycled copper while additional EIB funds support upgrades at other European plants for offshore wind, interconnectors, and low‑carbon cables.
Nexans to acquire Canadian manufacturer
Nexans has signed an agreement to acquire 100% of Electro Cables Inc., a leading Canadian low-voltage cable manufacturer based in Trenton, Ontario. The all-cash deal, valued at approximately €125 million, will bolster Nexans’ position in Canada’s electrification market. Electro Cables’ two sites and 200-person team serve fast-growing sectors such as infrastructure, renewables, and healthcare, with certified products meeting multiple international standards. Closing of the transaction is expected in the first half of 2026, pending regulatory approval.
Cable deployment enters a key stage for record interconnector cable project
Deployment of Nexans’ XLPE cable for the Celtic Interconnector, which will become the world’s longest subsea XLPE interconnector at 575 km, has entered a crucial installation phase with completion now targeted for 2028. The €1.6 billion project directly links the Irish and French grids and is recognized as a Project of Common Interest by the EU. Land and sea works, including converter station construction and cable burial, are well underway, though commissioning was delayed from 2027 to 2028 due to the scale and complexity of marine cable-laying and system integration. The project will enable Ireland’s first direct energy exchange with Europe, supporting 700 MW capacity to power about 450,000 homes and enhancing renewable energy integration. More than €530 million was provided through EU grants for this strategic energy venture.
Nexans wins contract to supply the 2nd Malta-Sicily Power Interconnector
Nexans has won a €300 million contract to supply a 99-km HVAC subsea cable for Malta-Sicily’s second interconnector, boosting Malta’s energy security and renewable energy efforts. The company also advances sustainability with recycled aluminum in low-carbon cables from its Jeumont and Bourgen-Bresse plants.