British Gas New Energy buys assets of Cool Planet Technologies Ltd

Centrica plc subsidiary British Gas New Energy Thursday announced the purchase of Cool Planet Technologies Ltd’s assets. British Gas New Energy said it had acquired the renewable energy firm’s assets for about 0.5 million pounds. Cool Planet Technologies Limited is a heat pump installation company. The investment consideration was paid in cash, said British Gas New Energy.

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. The UK’s heat pumps are expected to be a key part of the micro-generation sector in the country by the year 2020. For instance, installations are forecast to increase to 20,000 per year by 2012, following the introduction of the government’s Renewable Heat Incentive.

Managing Director of British Gas New Energy, Jon Kimber said this acquisition delivers further on the firm’s strategy of developing a broad range of low carbon technologies and advice that it can offer its customers, helping them to use less and use cleaner energy. The investment will as well see British Gas go 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.

British Gas New Energy is a division of British Gas, owned by Centrica plc. Centrica plc is a large multinational utility company, based in the United Kingdom but also with interests in North America. Centrica is the largest supplier of gas to domestic customers in the UK, and one of the largest suppliers of electricity, operating under the trading names “Scottish Gas” in Scotland and “British Gas” in the rest of the UK.

Its subsidiary British Gas supplies gas and electricity to UK residential and business customers; providing central heating and gas appliance installation and maintenance and low-carbon and energy efficient products and services. As part of the Centrica Group, it also provides home repair services to millions of customers in Scotland, Wales and England. In fact, it is the UK’s leading energy and Home Services provider.

On the other hand, Cool Planet supplies and provides renewable energy. The firm provides total solutions that are founded on a complete knowledge of the many issues involved and delivered with thorough professionalism and expertise.

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