Water technology specialist Ecolab plans to invest €100 million ($116.5 million) in two major industrial projects in France designated as of strategic importance by the government.

The company is investing in the proposed HoloSolis plant, a gigafactory for photovoltaic cells and modules located in the Europôle industrial zone in Hambach, northeastern France.

The facility is expected to be capable of producing up to 10 million solar panels annually and support the development of a European solar manufacturing sector.

Ecolab is also investing in GravitHy, a project aiming to produce 2 million tonnes of low-carbon iron annually using a hydrogen-based direct reduction process.

The future facility, to be built in the southern port town of Fos-sur-Mer, is intended to address the challenges of decarbonizing heavy industry and optimizing resource use in a sector with high water and energy demands. It is expected to begin operations in 2030.

Ecolab announced its investments during the Choose France Summit, where 71 investment announcements were made totaling €93 billion.

Christophe Beck, Chairman and CEO of Ecolab, said that by investing in GravitHy and HoloSolis, the company is committing itself alongside companies that are reinventing the European industrial model.

“This is precisely our mission: to demonstrate that economic performance and sustainability are not opposing goals, but rather the two pillars of a resilient, future-oriented industry,” Beck said.

Other investors in the HoloSolis factory include Cales Technologies and Forming AG and Trina Solar.