Econergy, market leaders in the field of biomass heating solutions, has been acquired by British Gas. In 2009 Centrica, the parent company of British Gas, invested in the business buying a 19% stake, and today they concluded a deal to purchase the remaining 81% from the current shareholders for £6.5m in cash.
As the Renewable Heat Incentive raises expectations for good growth in 2012, the acquisition of Econergy supports British Gas’s strategy of helping customers to reduce their carbon emissions through a portfolio of renewable technologies.
The business will continue to trade as Econergy Limited and contact points will remain unchanged.