Cool Planet snapped up for £500k
Northamptonshire-based Cool Planet Technologies has been bought by British Gas New Energy for £500,000 in cash. The Higham Ferrars-based company 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.
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.”
The company said heat pumps are expected to be a key part of the UK’s "microgeneration sector by 2020".
It added that installations are forecast to increase to 20,000 per year by 2012, following the introduction of the government’s 'Renewable Heat Incentive'.
Centrica is acquiring the assets of Cool Planet Technologies through its subsidiary British Gas Trading. British Gas New Energy is a division of British Gas.
