Dutch geothermal firm Yeager Power has secured EUR 100 million in new funding, which is able to go in direction of financing of two important acquisitions.
Dutch geothermal firm Yeager Power (Yeager) has introduced that it has secured a dedication of greater than EUR 100 million from infrastructure funding agency Pioneer Level Companions LLP (Pioneer) and it current shareholders to develop its geothermal vitality and infrastructure enterprise.
This funding will go in direction of the financing of two important acquisition for Yeager, together with a majority curiosity in Dutch geothermal firm Aardwarmte Vogalaer. Round two years in the past, the corporate had introduced progress in direction of constructing Vogalaer 2, their second geothermal warmth challenge.
These acquisitions considerably enhance Yeager’s operational asset base and set up a powerful basis for additional development, along with the 4 licenses Yeager already holds within the Netherlands. The corporate goals to ascertain a presence because the main full-cycle geothermal operator within the Netherlands.
Yeager’s technique is to develop, personal and function geothermal vitality tasks and related infrastructure to learn the greenhouse horticulture, residential and industrial sectors. Yeager goals to offer dependable, cost-competitive, and sustainable warmth in a secure and accountable method.
With the funding, Pioneer will grow to be a majority shareholder, supporting Yeager’s improvement alongside Kerogen Capital, an unbiased fund supervisor targeted on worldwide vitality and Yeager’s first institutional investor. The funding by Pioneer will enable Yeager to develop its portfolio and make a major contribution to the European vitality transition.
Pioneer is an unbiased, sustainable infrastructure funding agency with a concentrate on the vitality transition and setting sectors throughout Europe. Pioneer’s sustainable aims are to contribute to local weather change mitigation and/or transition to a round financial system. Pioneer has over €1.7 billion of fairness dedicated throughout Europe and its newest fund is classed as an Article 9 (inexperienced) fund below the EU Sustainable Finance Disclosure Regulation (SFDR).
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