British Gas acquires Cool Planet Technologies

British Gas New Energy today announced that it has acquired the assets of Cool Planet Technologies Limited (Cool Planet), a heat pump installation company for £0.5million in cash.

Cool Planet designs, sells and installs ground and air source heat pumps both directly for customers and also as a sub contractor for larger projects in the commercial and public sector.

Heat pumps are expected to be a key part of the UK's microgeneration sector by 2020. Installations are forecast to increase to 20,000 per year by 2012, following the introduction of the government's Renewable Heat Incentive.

Jon Kimber, Managing Director of British Gas New Energy, said: "This acquisition delivers further on our strategy of developing a broad range of low carbon technologies and advice that we can offer our customers, helping them to use less and use cleaner energy".

 

Notes

As part of the acquisition, British Gas has entered into a technical support agreement with low carbon and renewables consultants, the Rolton Group, which will provide advice and design support on the application of technologies in existing buildings.

Centrica plc is acquiring the assets of Cool Planet Technologies Limited through its subsidiary British Gas Trading Limited. British Gas New Energy is a division of British Gas.