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Ancala strikes renewable energy firm deal

Ancala Partners has acquired a majority interest in Noventa Energy Partners, a global renewable energy company which provides a full suite of services to decarbonise the heating and cooling of buildings, for an undisclosed amount. 

Ancala Partners (Ancala) has acquired a majority interest in Noventa Energy Partners (Noventa), a global renewable energy company which provides a full suite of services to decarbonise the heating and cooling of buildings, for an undisclosed amount. 

Ancala has made the investment on behalf of Ancala Infrastructure Fund III, the firm’s third mid-market focused infrastructure fund.

Noventa, which has an existing pipeline of projects across Canada, the UK and the US, uses proprietary methods and design to develop customised Wastewater Energy Transfers (WET) systems, anchored by the HUBER ThermWin technology, that harness the thermal energy in wastewater to provide heating and cooling without Scope 1 greenhouse gas emissions. On average, Noventa’s solutions reduce building carbon emissions from heating by more than 70 per cent.
  
Ancala’s investment will support Noventa’s existing management team, led by Founder and CEO Dennis Fotinos, to pursue its international growth plans and ramp up the delivery of a significant pipeline of wastewater energy projects. Ancala has committed to provide Noventa with additional funding to support the delivery of these projects.

Ancala brings considerable expertise to Noventa having invested more than €500 million into renewable energy companies. Its existing portfolio includes HS Orka, the largest privately-owned energy generator in Iceland, food waste recycling specialist Biogen, and biomass energy company Magnon Green Energy.
 
As part of the transaction, international renewable energy expert Heike Bergmann will join Noventa’s board as non-executive chair. 

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