Dutch geothermal platform Yeager Energy has secured €100m from its existing shareholders and Pioneer Point Partners.
Yeager develops, builds and operates geothermal energy projects for horticulture and residential use.
The investment, which represents the first deal for the Pioneer Infrastructure Partners II fund, will be used to acquire two operational geothermal companies to merge into Yeager’s platform. The first acquisition, Aardwarmte Vogelaer, was completed in early January, with the second expected in the current quarter.
After acquiring two companies, Yeager’s platform will include two operational assets and a development pipeline.
European sustainable infrastructure investor Pioneer Point said it will provide further equity to support Yeager’s growth. Kerogen Capital, a Yeager shareholder since 2021, will retain a minority stake.
An earlier version of this story incorrectly stated that Yeager Energy secured €100m from Pioneer Point. The €100m investment came from both Pioneer Point and Yeager Energy’s existing shareholders.
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