UK: Ground source technology company Rendesco has acquired the geothermal drilling business of the Gloucestershire-based ADP Group.
Rendesco currently owns and manages over 70 ground source networks, providing heat to more than 3,000 homes in the UK.
Trading since 1983, ADP Group provide geo-environmental ground investigation, vacuum and suction excavation solutions, rotary borehole drilling services and land and utility surveying.
According to Rendesco, bringing ADP’s geothermal drilling operations under the same roof as Rendesco’s designers, project managers and engineers will dramatically lower the cost of delivering renewable heat.
Tom Page, MD of ADP Group, will join Rendesco as head of drilling. He will be replaced by ADP’s current operations manager Josh Creed. ADP’s head of operations Dave Telford joins the board as operations director.
The acquisition follows Rendesco’s raising of £6m in capital funds, led by Clean Growth Fund, Eurazeo, and Aviva Ventures. It also follows Rendesco’s announcement earlier this year that it is designing and installing the UK’s largest water-source heat network for Welborne Garden Village in Fareham, Hampshire, which will provide clean heat, hot water, and cooling for 6,000 new homes.
“Our geothermal drilling operations enable communities to benefit from the heat stored locally in the ground to provide low-cost and low-carbon heating. In owning the end-to-end delivery of clean heat networks – the new substitute for gas grids – we will be dramatically reducing the cost to developers and residents alike,” said Rendesco CEO Alastair Murray.
“Our unique end-to-end approach enables us to offer training to our engineers and apprentices in a whole system approach. Investing in highly skilled, multi-disciplinary green jobs is essential to meeting the scale of green heating demand,” he added.
ADP Group will also continue to maintain a presence in the geothermal market as exclusive UK distributor for Elgin Separation Solutions, a leading mud-cleaning technology.
