Pioneer’s Dutch geothermal energy portfolio company Yeager Energy is pleased to announce its second acquisition this year concerning geothermal energy company Wayland Energy in the Netherlands. This acquisition follows on Yeager’s earlier acquisition of a majority interest in geothermal energy company Aardwarmte Vogelaer in February this year. These acquisitions are part of Yeager’s strategy to build a portfolio company in the geothermal energy and infrastructure business in the Netherlands.

The acquisition of Wayland Energy and Aardwarmte Vogelaer earlier this year significantly increase Yeager’s operational asset base with two producing assets and establish a strong foundation for further growth with up to 10 development projects, in addition to the four licenses Yeager already holds in the Netherlands. Yeager is looking forward to working with all existing and any new clients of Wayland and Vogelaer for the supply of sustainable geothermal heat.

The commitment of more than €100 million from Pioneer, and Yeager’s existing shareholders earlier this year, supports the growth of Yeager’s geothermal energy and infrastructure business.

Yeager’s strategy is to develop, own and operate a portfolio of geothermal energy projects and associated infrastructure to benefit the greenhouse horticulture, residential and industrial sectors. Yeager aims to provide reliable, cost-competitive, and sustainable heat in a safe and responsible manner. In implementing its strategy, Yeager will continue to expand, both through organic growth and strategic acquisitions.