Geothermal developer Yeager Energy secures substantial investment
Dutch geothermal energy developer Yeager Energy has secured a significant investment from independent investment fund Kerogen Capital.
Dutch Geothermal Energy company Yeager Energy (“Yeager”) has announce the signing of an agreement with energy focused investment fund Kerogen Capital (“Kerogen”) for a substantial investment to support and grow its geothermal energy and district heating business in the Netherlands and Europe. We reported on several partnerships Yeager Energy has engaged on, last in October 2020.
Yeager’s strategy is to develop and operate a portfolio of geothermal energy projects and (smart) district heating networks to benefit the industry, the built environment (residential users) as well as the greenhouse horticulture sector. Yeager aims to provide reliable, cost-competitive sustainable heat in a safe and responsible manner.
Yeager has several geothermal licences in application and is in discussions to enter a number of existing licences. The business model of Yeager includes operating the entire heat value chain – from ‘Source to Sales’, taking a portfolio approach, pursuing both organic and inorganic growth opportunities and working in partnerships. Yeager Energy recognises the responsibility for sustainable development and therefore strives to protect the health, safety and wellbeing of all those involved in its activities, as well as the environment the company operates in.
Kerogen Capital is an independent investment fund specialising in the energy sector, managing over $2bn of capital commitments across multiple funds, and is committed to delivering a carbon neutral future. Kerogen brings financial strength as well as significant technical and financial expertise, and has over a decade of experience with successfully growing energy businesses around the world. Kerogen Capital has adopted a Net Zero Carbon Strategy and is working actively to achieving carbon neutrality across the Fund. Kerogen is a signatory to UNPRI (United Nations Principles for Responsible Investment).
The objective of Kerogen is to partner with talented and entrepreneurial energy companies. Kerogen has been scouting the European geothermal energy market for some time and it views The Netherlands as an attractive market for growth. It believes that Yeager has the strategy, the skills and the abilities to support this growth.
Yeager is very much looking forward to working with Kerogen. The investment by Kerogen will allow Yeager to execute its strategy and to make a significant contribution to the (heat) energy transition in The Netherlands and beyond.
Source: Company release by email