Here are the members of Kyotherm, investment company specialised in third-party financing of renewable heat production projects and energy efficiency projects.
Arnaud SUSPLUGAS
CEO and Investments Director
Arnaud Susplugas, founder of Kyotherm SAS, is an alumnus of the Ecole Polytechnique and of Ecole des Mines de Paris. Arnaud Susplugas worked for several years in the investment team of the Finance Department of a leading energy services company, a joint company of Veolia Environnement and EDF. He was involved in the project financing of large biomass power plants and district heating networks in France and Europe.
Thibault CHEVALLIER
CFO and Investment Director
Thibault Chevallier, Chief Financial Officer, is an alumnus of Ecole Centrale (Paris). Thibault was previously CFO and member of the Executive Committee of EOLFI, a leading developer and owner of wind and PV power plants. He structured the financing of over €200m of renewable energy projects and organized the disposal of over 200 MW of renewable assets.
Rémi CUER
Investment Director
Rémi Cuer, Investment Director, is an alumnus of ESCP Europe. Rémi Cuer has joined Kyotherm in 2013 and has previously had a first experience in capital investment in the energy infrastructure sector and in corporate finance at Ardian, Macquarie and Oddo Corporate Finance. He speaks English, German and Spanish.
Karine BAULER
Investment Director
Karine BAULER, Investment Director, is an alumnus of ESSEC Business School. She previously worked in the Business Development and M&A department at the Danish utility Ørsted, in charge of the acquisition of onshore renewable energy developers and pipelines across Europe. Prior to that, she worked for 7 years at BNP Paribas in the United States, with various roles in tax equity investment and project financing for wind and solar projects.
Nathan MILLIOT
Senior Investment Manager
Nathan MILLIOT, Senior Investment Manager, is an alumnus of the Ecole Polytechnique and the Ecole Nationale des Ponts et Chaussées. He previously had several experiences in the transportation and energy infrastructure sector in Europe. He notably worked for the structured finance department of VINCI Concessions and for Conquest, an infrastructure investment fund in Paris.
Louis ROY-NEAU
Senior Investment Manager
Louis Roy-Neau, Investment Manager, is an alumnus of Ecole Polytechnique and the London School of Economics. After a first experience in the Schroders infrastructure debt fund, he worked 2.5 years in the Technical Due Diligence team of Mott MacDonald as an infrastructure finance consultant.
Aymen MOUDDANE
Finance and Portfolio Manager
Aymen MOUDDANE, Finance and Portfolio Manager, is a former student of Skema Business School. He was previously Audit Manager at KPMG specialising in the TMT (Technology, Media and Telecommunications) sectors. Aymen MOUDDANE has conducted audits of statutory and consolidated accounts, particularly for listed groups as well as for growing SMEs.
Romain ARETTE-HOURQUET
Investment Manager
Romain Arette-Hourquet, Investment Manager, is an alumnus of Mines ParisTech. Romain has previously had two different experiences in the field of renewable energy infrastructure project finance: first working for the French Development Agency, then for STOA Infra & Energy, a subsidiary of "Caisse des Dépôts".
Luca VIEREN
Investment Manager
Luca Vieren, Investment Manager, is an alumnus of EM Lyon Business School and East China Normal University. Luca has previously had two experiences in the financing of large infrastructure projects at the International Division of EDF and within the investment fund Ardian.
Léa MEHILLI
Investment Analyst
Léa MEHILLI, Investment Analyst, is an alumnus of EDHEC Business School and Sungkyunkwan University. Léa has previously had one experience in the financing of large renewable energy projects within the Investment Banking division of CEPAC (Caisse d'Épargne Provence Alpes Corse)
Kyotherm’s Strategic Committee is composed of ten members, representatives of the company’s core shareholders, who bring in their experience, skills, and expertise to support Kyotherm’s growth. These ten members are:
- Arnaud SUSPLUGAS, President and Director at Kyotherm
- Christophe GUILLAUME, Director at Noria Invest, an investment fund dedicated to the environmental transition
- Arnaud DELATTRE, Associate Director at Starquest Capital, a growth capital private equity fund
- Jean-François VAURY, Director at Johes, investment fund dedicated to the energy transition
- Eric BRUGIERE, Partner at Ciclad, a multi-sector private equity company
- Ying XIAO, Investment Director at Ciclad
- Aurélien HUE, Deputy Investment Director at BPI France Investissement Energie Environnement, the French Public Investment Bank
- Benoît VILLAIN, Investment Manager at BPI France
- Michel PEPIN, Senior Project Manager at EDF
- Guy AUGER, Partner at Andera Infra, investing in high value-added green infrastructure in sectors driving the energy transition

We accompany those who need support to develop infrastructures for energy projects (energy service providers, engineering firms, developers, heat consumers, equipment manufacturers, etc.) in securing third-party finance for these projects. We cover sectors of geothermal energy , biomass, solar thermal, waste heat recovery, energy efficiency and energy savings, cogeneration.
Find out more about our projects.