Gaia Energy acquires Aardyn BV

This equity investment is intended for the exploitation and construction of new geothermal projects, strategically positioned next to the existing geothermal activities within Aardyn's and Gaia Energy's portfolio.

Gaia Energy has a partnership with IPS Geothermal Energy Group and 85 Degrees Renewable Group, which has involved joint development initiatives for a large number of geothermal projects. This consortium has a large number of geothermal permits and assets throughout the Netherlands.

Aardyn is active as a full-service developer and operator in greenhouse horticulture and urban areas. In recent years, it has developed a broad portfolio with various projects in the development, construction and active exploitation phase with its own team of 35 passionate professionals. Aardyn remains active as an independent company on projects for which it has an exploration permit.

With the completion of this acquisition, Gaia Energy and Aardyn have a robust and reliable portfolio of geothermal projects throughout the Netherlands. With this combined strength, the ambition is to grow into the leading player in the Dutch geothermal market and lay a solid foundation for future expansion into the European arena.

The efforts of Aardyn and Gaia Energy are and will remain focused on the progress and realisation of the more than 25 active projects for which there is currently an exploration permit. The aim of these projects is to give a huge boost to the heat transition in the Netherlands in the upcoming eight years by unlocking more than 500 MW of geothermal energy.

With Aardyn's extensive knowledge, expertise, and practical experience in all phases of geothermal energy projects and together with the carefully chosen industrial and joint venture partners from Gaia Energy, there is a highly skilled and broad team covering all aspects of geothermal operations. This involves the initial development and construction up to and including the ongoing management and maintenance organisation and further optimisation of existing assets. In the immediate future, the shared priority is the integration of teams, processes and personnel.

Nico Kuipers, Co-Shareholder Gaia Energy, said: “These acquisition marks a step towards the realisation of our vision on sustainable geothermal energy in the Netherlands. With a growing portfolio of projects and a strong team, we are ready to move the Dutch geothermal market further forward.”

Jos Huizing, Co-Shareholder Gaia Energy, added: “We are proud of the journey that has brought us to this point. With Gaia Energy we see an exciting future for our projects, our team and for sustainable energy in the Netherlands.”

Bas van Dun, Director of Aardyn, concluded: “This acquisition allows us to continue doing business as Aardyn. The broader portfolio of projects and the combined knowledge and expertise mean that we can deliver our various geothermal projects even better and more efficiently and contribute the heat transition in the Nether-lands.”

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