01 Apr 2009 05:04:03
Centrica buys biomass firm
Centrica has announced the purchase of a 19 percent stake in biomass systems manufacturer Econergy.
Using its British Gas New Energy division, the company acquired the stake for £1 million, with the deal allowing the energy supplier to buy the remainder of the stock over the next four years.
Econergy designs, sells and installs biomass heating systems for domestic and commercial customers as well as for community and public sector organisations.
Gearoid Lane, managing director of British Gas New Energy, said: "This investment is another step forward in our development of a broad range of renewable, energy efficient and low carbon technologies that we can offer our customers, helping them to use less and use cleaner energy".
According to Econergy, unlike other renewable technologies which harness the sun directly or indirectly, biomass is based on harnessing stored solar energy which gives biomass a wider range of application than other renewables.
It claims that biomass can replace fossil fuels in all three sectors of the energy market, namely heating, electricity and transport fuels.http://www.econergy.ltd.uk/