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Geothermal International becomes GI Energy and offers finance package

Geothermal International is rebranding itself as GI Energy. The company was established in 2000, then in 2008 Scottish and Southern Energy took a 20 per cent stake in the business.
The company has also now embarked on a new development that combines GSHP with Combined Heat and Power to offer customers an efficient and flexible energy solution.

One of the drawbacks of Combined Heat and Power is that the heat produced is often surplus to requirements during warmer weather but the system may need to be switched on to provide electricity generation.

When combined heat and power is run in tandem with a GSHP, the surplus heat can be re-directed back into the ground and stored there until required during colder weather, when it can be extracted by the GSHP and used to heat buildings. This dramatically increases the efficiency of the system.

GI Energy is already providing a similar service to customers in the USA through its GI Endurant business.

Recognising that the Government's Renewable Heat Incentive is not yet sufficiently attractive to make a step change in the GSHP market in the UK, GI Energy has introduced a new finance package that allows customers to enjoy the benefits of having a GSHP system from day one of its installation, without having to tie up their own valuable working capital.

The company says that customers will see significant savings on heating and cooling costs, along with a reduction in their carbon footprint, from the outset, while GI Energy will take responsibility for maintaining the system for a fixed number of years.

The finance package was developed in response to changing customer demands in the fast-moving alternative energy market. GI Energy recognised that while many potential customers could see the benefits of GSHP, they were reluctant to commit to the initial capital outlay during a recession.

Chris Davidson, development director - market/policy/technology at GI Energy, said: 'The technology has matured a lot in the marketplace so it's not enough to simply put pipes in the ground and sell the technology alone. GI Energy now has access to substantial funds and can offer customers an innovative finance solution as well: they don't have to find the upfront finance and they don't have to run the system themselves.'

The new finance package has already been used by one major supermarket chain to install GSHP at two of its stores.



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23 October 2012

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