Yeager Energy strengthens business with local acquisition, NL
With acquisition of local heating product and service company for the greenhouse horticulture sector, Yeager Energy strengthens its geothermal development portfolio in the Netherlands.
Dutch geothermal energy company Yeager Energy announced having acquired local company ‘Warmtebedrijf Westland’, a company focused on the provision of sustainable heat, such as geothermal to customers in the Netherlands.
The acquisition of ‘Warmtebedrijf Westland’ means a further step in realising Yeager Energy’s strategy of developing and operating a portfolio of geothermal energy projects, so the company release. As part of that, the company also emphasizes the development and operation of (smart) district heating networks to benefit the greenhouse horticulture sector, the industry as well as the built environment (residential users). Yeager aims to provide reliable, cost competitive sustainable heat in a safe and responsible manner.
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.
The objective of ‘Warmtebedrijf Westland’ is to deliver a bundle of products and services for the greenhouse horticulture sector including sustainable heat such as geothermal heat, CO2 gas as a feedstock for the greenhouses, irrigation water and glass-fibre data links. In addition ‘Warmtebedrijf Westland’ is seeking to expand its sustainable heat business to the built environment (residential users).
Warmtebedrijf Westland participates in the geothermal project ‘Aardwarmte Delfland’ in the town ‘De Lier’, south of The Hague, jointly with partners ‘Shell Geothermal B.V.’ and ‘A. de Bruijn en Zn. B.V.’ and ‘Harting Holland B.V.’, two large greenhouse horticultural companies.
First heat production is expected in Q4 2023. Yeager has recently received a significant investment from energy focused investment fund Kerogen Capital to support and grow its geothermal energy and district heating business in the Netherlands and Europe.
Source: company release by email