Canadian geothermal advisory firm expands with Dutch acquisition

Canadian geothermal advisory firm expands with Dutch acquisition Well test, Trias Westland, Netherlands - Feb. 28, 2018 (source: Trias Westland)
Carlo Cariaga 20 Jun 2022

Canada-based Sproule has acquired Dutch geothermal advisory firm Veegeo, thus acquiring the firm's geothermal expertise and expanding the scope of their business.

Sproule, a leading global energy advisory firm, has announced the acquisition of Veegeo, a Rotterdam-based geothermal advisory firm providing operational management and consulting services to geothermal companies, investors, and governmental agencies. The acquisition combines Veegeo’s significant geothermal expertise with Sproule’s broader Energy Advisory business.

Veegeo has been involved in the majority of geothermal projects in the Netherlands since its founding in 2012 and has an established reputation for providing wells production management, project realization support, and consulting services in the burgeoning Dutch geothermal market. Among the past projects of Veegeo was the project management for the first doublet at Trias Westland, design and installation of Glass Reinforced Epoxy (GRE)-lined wells, and seismic monitoring at geothermal operations in South-Holland North-Holland.

“This acquisition will strengthen Sproule’s ability to help our clients navigate geothermal opportunities globally. We anticipate that geothermal energy will be a key component in the energy mix of many markets as they strive towards net zero and we are pleased to add this expertise to our team, knowing that Veegeo and Sproule’s combined knowledge will make a powerful combination to best support our clients,” says Jim Chisholm, President and CEO, Sproule.

“Joining forces with Sproule will allow us to leverage a larger global platform and network to better serve our current clients and diversify our project portfolio, both through operational excellence and strategic advisory services in the geothermal market,” says Floris Veeger, Founder and Managing Director, Veegeo.

“Veegeo adds to our growing expertise across the energy value chain. This is critical in helping our clients understand value and risk in increasingly complex energy markets,” says Christoffer Mylde, SVP Corporate Development, Sproule.

Sproule is a global energy consulting and advisory firm helping clients navigate the world’s evolving energy system. Our services create value by increasing shareholder confidence through trusted and independent analysis, optimizing operational performance, and strategically advising on M&A transactions and energy markets. Headquartered in Calgary, Canada, Sproule has offices in Denver, Mexico City and The Hague.

Source: Sproule