Yeager Energy Acquisition Boosts Geothermal Capabilities
At present, geothermal energy is a significant part of energy and heat production and is becoming more accessible across the globe. But with companies like Yeager Energy tapping into its clean energy and heat sources, it is bound to be more prominent in the renewable energy sector.
Following a significant investment into the business by Kerogen Capital, Yeager announced it had acquired a local company, ‘Warmtebedrijf Westland’, which will provide sustainable heat sources to customers in the Netherlands through the use of geothermal sources.
Who is Yeager Energy?
Yeager’s business model involves the operation of an entire heat value chain. The company sources and sells geothermal energy in a portfolio approach, which allows the company to supply organic and inorganic growth opportunities and encourage working partnerships. In May 2021, Yeager received a significant capital investment from Kerogen Capital - a company that manages US$2bn of capital within the energy sector.
Yeager’s Energy Portfolio Approach
The Dutch company will develop and operate a series of geothermal energy projects at the newly acquired site to support further development, which involves implementing smart district heating networks. These will be installed to improve the greenhouse horticulture industry and develop the built environment for residents in the local area. This will provide the residential area with reliable and competitively priced heat sources, which are safe and sustainable. Greenhouse horticulture will be achieved through geothermal heat, CO2 gas, irrigation and glass-fibre data links. Thanks to the investment from Kerogen, the project is set to begin heat production in the Q4 of 2023.
Warmtebedrijf Westland’s Geothermal Experience
Warmtebedrijf Westland also participates in the ‘Aardwarmte Delfland’ geothermal project, based in a town in the Netherlands call ‘De Lier’. The project is a joint project with partners Shell Geothermal B.V - the geothermal energy arm of Shell Corporation, ‘A. de Bruijn en Zn. B.V’ and ‘Harting Holland B.V.’ - two companies participating in horticultural greenhouse projects.
