DIF Capital Partners is acquiring a majority stake in Canadian geothermal company Diverso Energy.
The infrastructure fund manager鈥檚 DIF Infrastructure VII fund is investing an undisclosed amount to buy a 75% interest directly from Diverso鈥檚 founders who will retain the remaining stake and will continue to lead the company.
Founded in 2015, Diverso offers geothermal heating and cooling solutions for multi-unit residential and commercial projects under an energy-as-a-service model with long-term contracts.
Tim Weber, CEO of Diverso, said: 鈥淲ith our new partnership and the immediate demand for low-carbon building solutions, we are well positioned to enhance our operations and grow our position as market leaders as the industry accelerates the adoption of geothermal solutions.鈥�
Gijs Voskuyl, partner and head of infrastructure at DIF Capital Partners, said: 鈥淭his investment continues to build upon DIF鈥檚 long-standing build-to-core strategy and commitment to reducing greenhouse gases globally.
鈥淲e look forward to the partnership with the Diverso management team in expanding its presence as a leading Canadian geothermal company in an industry supported by strong regulatory tailwinds.鈥�
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