Today, QIC and Ullico announced they completed their previously announced acquisition of CenTrio (formerly known as Enwave Energy US). Indeed, CenTrio is the largest pure-play district energy platform in the U.S. According to QIC and Ullico, this acquisition is poised for accelerating growth.
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Currently, through the acquisition, CenTrio will continue delivering reliable, cost-effective, and sustainable energy to customers across the U.S. Besides, it will remain to provide critical heating, cooling, and electricity solutions to more than 400 buildings; for instance, in urban centers, universities, and hospitals.
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Moreover, CenTrio is currently a market leader in district energy, with operations in New Orleans, Houston, Chicago, Los Angeles, Seattle, Portland, Syracuse, and Denver. Further, the company has established its new corporate headquarters in New Orleans, employing 30 of its 170 staff nationwide.
Thus, CenTrio’s sustainable district energy operations include North America’s largest ice thermal storage facility and the most extensive sewer heat recovery system in the U.S.; in fact, currently under construction in Denver.
In this sense, Doug Castleberry, President and COO of CenTrio, commented in a media release; “Indeed, our team is energized to work with our new owners QIC and Ullico to continue providing the resilient, sustainable energy solutions we are known for; while identifying new ways to deliver even more value to our customers.”
Therefore, Castleberry continued; “our partnership with QIC and Ullico will help us speed our expansion, in both current and new markets; particularly, as we capitalize on the many opportunities before us and further differentiate ourselves as an energy transition partner.”
Reception at QIC and Ullico
Similarly, Ross Israel, Head of Global Infrastructure, QIC, added; “CenTrio enhances QIC’s focus on investments in innovative distributed energy solutions. Thus, we look forward to working with CenTrio’s outstanding team; which indeed has pioneered low-carbon district energy solutions including ice batteries and sewer heat recovery.”
In doing so, Israel added, “we will leverage our energy sector expertise further to accelerate the company’s growth across the U.S. Also, to build long-term value for our investors.”
Finally, Rohit Syal, Head of Acquisitions of Ullico Infrastructure Fund, commented; “Indeed, Ullico is delighted to reach this milestone with QIC and CenTrio. Thus, our collaboration will help CenTrio expand the reach and impact of its sustainable critical infrastructure services; particularly, bringing meaningful benefits to more customers and communities across the country. Lastly, we look forward to building enduring partnerships with customers, their stakeholders, and the communities in which we operate.”