ESB Novusmodus, the €200m ($250m) corporate venturing fund of Ireland-based power utility ESB, has led a £12.1m ($20m) investment in Geothermal International to partly help the heat pump maker company acquire a peer. ESB Novusmodus has invested £8.6m and other investors, including SSE Ventures, the corporate venturing fund of local utility Scottish & Southern Energy that is now managed by Scottish Equity Partners, have invested £3.5m. Geothermal, which is Europe’s largest designer and installer of ground source heat pump (GSHP) systems, said it would buy US-based Endurant Energy as part of its international expansion and as the American comapny designs and installs combined heat and power (CHP) systems. Bertrand Gautier, Novusmodus partner, said: “Geothermal International is the clear leader in both the UK and European GSHP sectors and is well positioned in international markets to expand rapidly.”
- News & Analysis
- Global Corporate Venturing
- Global University Venturing
- Latest News
- Deal Data
- Community & Events
ESB heats up Geothermal International
Aug 11, 2012 • Global Corporate Venturing
LEADERSHIP SOCIETYInforming, connecting, and transforming the global corporate venture capital ecosystem.
The Global Corporate Venturing (GCV) Leadership Society’s mission is to help bridge the different strengths and ambitions of investors across industry sectors, geography, structure, and their returns.
Featured ContentFUNDING ROUND DATA Which corporates are backing which startups? Search our corporate deal database.
FUNDING ROUND DATA
Which corporates are backing which startups? Search our corporate deal database.NOMINATE Nominations for the GCV Powerlist 2024 are now open
Nominations for the GCV Powerlist 2024 are now openEventsWebinar: Startups and Strategics – What works and what doesn’tEventsGCV Institute: Landing the Value of Corporate VenturingTop News
GCV provides the global corporate venturing community and their ecosystem partners with the information, insights and access needed to drive impactful open innovation. Across our three services - News & Analysis, Community & Events, and the GCV Institute - we create a network-rich environment for global innovation and capital to meet and thrive. At the heart of our community sits the GCV Leadership Society, providing privileged access to all our services and resources.test reg