SSE invests £15m in GI
Scottish and Southern Energy today announced an agreement to invest up to £15m in cash for a 20 per cent stake in Geothermal International from existing shareholders. The investment will be made on a phased basis over the next six months.
Coventry-based Geothermal International (GI) primarily supplies ground source heating and cooling systems to the commercial building sector in the
Since becoming established in 2000, it has installed over 1300 ground source heat pump systems, amounting to over 90MW of installed capacity, sized from 6kW to 10MW.
According to SSE, ground source heat pump systems can be used to transfer energy between buildings and the surface crust of the planet, or surrounding air, providing a renewable and energy efficient means of heating and cooling buildings.
The technology can reduce heating and cooling costs by up to 70 per cent annually whilst building carbon emissions can be also reduced by 50 per cent.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
CCC Report Finds UK Climate Targets Still Within Reach
In 1990 67% of the UK´s electricity came from coal-fired power stations and even without renewables the transition to gas was a major contributor to...