Ancala Partners, an infrastructure investor, has acquired a majority stake in Noventa Energy Partners, a global renewable energy company focused on decarbonizing building heating and cooling.

Noventa Energy Partners has an extensive portfolio of projects spread across Canada, the UK, and the US, and offers comprehensive services aimed at reducing carbon emissions from heating and cooling systems in buildings.

The investment in Noventa was made by Ancala on behalf of its third mid-market-focused infrastructure fund, known as Ancala Infrastructure Fund III. Ancala also plans to provide additional funding to support Noventa's upcoming projects.

With this financial backing, Noventa Energy Partners aims to expand its presence on an international scale and accelerate the implementation of wastewater energy projects from its pipeline.

Dennis Fotinos, the founder and CEO of Noventa, expressed enthusiasm about the investment, stating that it aligns well with their mission of decarbonizing buildings through innovative solutions. Noventa's association with HUBER and its ThermWin technology was an initial step in this direction, and the partnership with Ancala marks the second significant milestone in achieving their goals.

Lee Mellor, a partner at Ancala Partners, highlighted the pressing issue of building emissions being a major contributor to global energy-related carbon emissions. He praised Noventa's capabilities in helping building owners substantially reduce carbon emissions and heating costs while improving energy ratings. Ancala eagerly anticipates collaborating with Noventa to utilize their expertise in thermal energy and deliver value to customers and other stakeholders. Ancala is actively seeking opportunities to invest in and support renewable energy specialists like Noventa.