On December 18, 2023, the sale of 100% of Thermowatt Kft.'s business to Veolia Group, GloCap I. Economic Development Private Equity Fund, and Trustify I. Private Equity Fund was closed.

The Hungarian and Polish member companies of the Veolia group have acquired a majority ownership stake in THERMOWATT Energetika és Építoipari Kft., which develops innovative technology aimed at utilizing the thermal energy of wastewater. An additional share of ownership was acquired by GloCap I. Economic Development Private Equity Fund managed by Global Capital Venture Capital Management Zrt. and Trustify I. Private Equity Fund managed by Trustify Investment Management Zrt.

The main activities of THERMOWATT Energetika és Építoipari Kft., founded in 2007 and based in Budapest, are engineering design and energy consulting, as well as the construction and operation of CO2-free technology for heating and cooling buildings based on heat exchangers and heat pumps, using the heat of waste water.

THERMOWATT's innovation has been awarded several times and the company now has a registered, exclusively owned patent in 37 countries. This technology can be implemented and operated quickly and easily, and offers an environmentally friendly and economical solution for energy independence and security. There are currently five systems operating in Hungary using this method, with an installed capacity ranging from 1 MW to 4 MW.

The team from IMAP Hungary advised Thermowatt on the sale.