Heating and Ventilating

 

ESB Novusmodus leads £12m investment in Geothermal International

ESB Novusmodus has invested £8.6 million in Geothermal International along with other investors, including SSE Ventures, for new shares totalling £3.5m.
The capital will be used to fund growth in the UK market, finance the acquisition of Endurant Energy in the US, and support ongoing international expansion. Based in Coventry, the company is Europe's largest designer and installer of Ground Source Heat Pump systems.

Bertrand Gautier, Novusmodus partner, said: 'Geothermal International is a world class company with a superb future. It is the clear leader in both the UK and European GSHP sectors and is well positioned in international markets to expand rapidly. GI has set industry benchmarks as a pioneer in the large scale GSHP market, and we look forward to helping it to accelerate this growth.'

Brian Davidson, CEO of Geothermal International, said: 'We are delighted with the investment from ESB Novusmodus, a partner that understands the transformation we are effecting. With our latest acquisition in the US, the beginning of the RHI in the UK, and further regulatory benefits on the horizon, it is an exciting time for Geothermal International and for the industry as a whole.'

Follow HVROnlineEditor on Twitter
22 December 2011

Comments

Already Registered?
Login
Not Yet Registered?
Register
ACR News

Whitty urges businesses to invest in ventilation

Investing in building ventilation will play a key role in helping the country recover from the Covid-19 pandemic and prepare for future health emergencies, according to the government's chief medical adviser Professor Chris Whitty....

  26-Nov-2021

Gilberts’ background role in improving police estate efficiency

Capital investment in a new £48m headquarters building is predicted to save Merseyside Police approximately £250,000 a year in estate operating costs by delivering improved energy efficiency. A key component of the enhanced energy efficiency is the ...

  01-Dec-2021

If you need to open a Solenoid Valve manually, you need a SVOM!

If you need to open a Solenoid Valve manually, you need a SVOM!
  22-Oct-2021
Heating & Ventilating Review is the number one magazine in the HVAR industry. Don’t miss out, subscribe today!
Subcribe to HVR

Diary

https://www.heatingandventilating.net/esb-novusmodus-leads-12m-investment-in-geothermal-international