Pioneer Point Partners acquires Yeager Energy
Transaction summary
LEIDEN, February 5, 2025 – Pioneer Point Partners (“Pioneer”) has announced its investment in Yeager Energy (“Yeager”), a Dutch geothermal platform that develops, builds and operates geothermal energy projects for the horticulture and residential sectors. Yeager is the first investment through its second institutional fund, Pioneer Infrastructure Partners II SCSp.
Pioneer, together with Yeager’s existing shareholders, have committed € 100 million to the platform. The Fund’s initial investment is being used to acquire two further geothermal companies with operational assets which will be merged into the Yeager platform to provide immediate scale. The first acquisition, Aardwarmte Vogelaer, was completed in early January, and the second acquisition is expected to close in Q1 2025.
Following the completion of the two acquisitions, Yeager’s platform will comprise two operational assets and a large pipeline at various stages of development. Pioneer will provide further equity investment to support the company’s growth, enabling the delivery of future projects and advance its strategic vision to create a leading geothermal platform in the Netherlands.
Founded and managed by a highly experienced executive team that spent over 34 years’ collectively at Shell, Yeager aims to provide reliable, cost-competitive, sustainable heat in a safe and responsible manner. Kerogen Capital, which has been a shareholder since 2021, will retain a minority share in the Company following the completion of the acquisitions.
Press release: Pioneer Point Partners and Yeager Energy
Emendo Capital acted as financial adviser to Pioneer Point Partners.
About Yeager Energy
Yeager is a Dutch company based in Leiden, founded in 2018 and active in the geothermal sector. The two founders have extensive experience in the responsible realization and management of large, complex and capital-intensive projects in the energy sector, with safety, integrity and environmental management as a top priority. Kerogen Capital, which has been a shareholder since 2021, will retain a minority share in the Company following the completion of the acquisitions.
For additional information on Yeager Energy, visit https://www.yeager-energy.com/
About Pioneer Point Partners
Pioneer is an independent, sustainable infrastructure investment firm with a focus on the energy transition and environment sectors across Europe. Pioneer’s sustainable objectives are to contribute to climate change mitigation and/or transition to a circular economy. Pioneer has over € 1.7bn of equity committed across Europe and its latest fund is classified as an Article 9 (green) fund under the EU Sustainable Finance Disclosure Regulation (SFDR).
For additional information on Pioneer Point Partners, visit https://pioneerpoint.com/
About Kerogen Capital
Established in 2007, Kerogen Capital is an independent private equity fund manager focused on the international energy sector. Since inception, Kerogen has raised over $ 2 billion in private equity and co-investment funds. Kerogen’s investors comprise a range of blue-chip institutions including endowment funds, foundations, pension plans, fund of funds, international corporations and family offices.
For additional information on Kerogen Capital, visit https://kerogencap.com/