Geothermal International, a Coventry and Stirling, UK-based designer and installer of Ground Source Heat Pump systems, has raised £12m in funding.
The round was led by ESB Novusmodus, which has invested £8.6m, and other investors, including SSE Ventures.
The company intends to use the funding to expand in the UK market, finance the acquisition of Endurant Energy in the US, and grow internationally.
Established in 2000 and led by CEO Brian Davidson, the company provides a turnkey low carbon and green solution for the design, installation and commissioning of Ground and Air Source Heat Pump systems. GSHP/ASAP systems provide renewable energy efficient heating and cooling for buildings (from hospitals to schools to office developments, to industrial warehousing to residential homes).