Yeager Energy acquires Aardwarmte Vogelaer

Transaction summary

LEIDEN, February 5, 2025 – Dutch geothermal energy company Yeager Energy (“Yeager”) becomes majority shareholder in Aardwarmte Vogelaer, a supplier of geothermal energy to 18 greenhouse horticulture companies in the Westland region. The acquisition strengthens the already existing collaboration between Yeager and Aardwarmte Vogelaer and makes it possible to jointly and successfully develop Aardwarmte Vogelaer's second geothermal project.

The collaboration between the two companies started in early 2024 for the further development of the second geothermal project of Aardwarmte Vogelaer. Currently, preparations for this second project are in full swing and it is expected that the project will be able to supply heat to the new customers in the winter of 2025/2026. The project will supply heat to another 16 horticultural companies and residential areas in the Westland region.

Press release: Aardwarmte Vogelaer and Yeager Energy

Emendo Capital acted as financial adviser to Yeager Energy.

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.

For additional information on Yeager Energy, visit https://www.yeager-energy.com/

About Aardwarmte Vogelaer

Aardwarmte Vogelaer was founded in 2014 by six shareholders and supplies geothermal energy to 18 greenhouse horticulture companies in Honselersdijk, Poeldijk and Monster (NL) with the Aardwarmte Vogelaer 1 project. By supplying geothermal energy, Aardwarmte Vogelaer makes the heat and thus part of the energy supply of the connected customers more sustainable. In 2025, the number of customers of the two geothermal energy projects will amount to a total of 34 greenhouse horticulture companies and 424 homes in the Westmade-Noord residential area in Monster (NL).

For additional information on Aardwarmte Vogelaer, visit https://www.aardwarmtevogelaer.nl/