Noventa Energy has acquired three heat from wastewater assets in the UK from Scottish Water Horizons.
The Ancala-backed renewable energy firm has invested an unspecified amount to acquire the assets located in Glasgow, Stirling and Campbeltown.
The acquired heat-from-wastewater assets currently supply heat to district heat networks operated by Stirling Council and Clyde Gateway, as well as a leisure centre owned by Argyll & Bute Council.
Additionally, the assets provide power to wastewater treatment plants owned by Scottish Water in Stirling and Glasgow. The services are delivered through combined heat and power and wastewater energy transfer systems under long-term agreements.
Noventa said it expects to invest in upgrading the assets with its systems to help increase the utilisation of heat from wastewater to provide additional renewable heating capacity for customers.
Dennis Fotinos, founder and CEO, Noventa, said: “This acquisition complements our plans to grow our operations across the UK and Europe. It also provides us with a new opportunity to further evidence the transformative impact of our innovative decarbonisation technology.”
Ancala, which invested in Noventa in 2023, is financing the acquisition.
Lee Mellor, partner at Ancala, said: “This is an important milestone in Noventa’s international expansion plans. Ancala is committed to providing Dennis and his team with the capital they need to acquire more complementary sites and fund new developments so that Noventa can provide more customers with industry-leading decarbonised heating and cooling solutions.”
Paul Kerr, managing director of Scottish Water Horizons, said: “This sale enables us to accelerate the development of renewable energy technologies, such as heat from wastewater projects, further supporting Scotland’s energy transition.
“We remain deeply committed to Scotland’s low carbon heat market, and our partnership with Noventa ensures these assets will continue to grow, contributing to Scotland’s net-zero goals by providing reliable, low-carbon heating solutions.
“This aligns with our strategy of incubating and divesting at the right time, maximising impact, and reinvesting in projects that protect our environment for future generations.”
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