Pioneer Point Partners LLP is pleased to announce its investment in Yeager Energy BV, 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, Aardwartme 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.