Tedom expands in Britain, buys energy company EuroSite Power

Czech-origin energy group Tedom is buying British company EuroSite Power, which supplies heat and electricity from combined heat and power units to hotels and stadiums. It operates dozens of facilities in Britain with a total capacity of almost six megawatts (MW). Tedom announced the transaction in a press release today. The group did not disclose how much it paid for the 100% stake.

EuroSite Power installs, finances and operates low-emission energy sources directly at customers’ premises. It focuses on combined heat and power generation, but also offers solar power plants.

The company primarily provides services to hotels, wellness centres and sports halls. Its clients include three Hilton hotels, a sports arena in Coventry with a capacity of more than 30.000 spectators, and a hospital complex in Clifton, England.

Tedom has previously supplied combined heat and power units to Britain, with the total running into the low hundreds. The acquisition of EuroSite Power now gives it the opportunity to strengthen its position in energy services and low-emission energy, the company said.

„The future of energy lies in decentralisation and low-emission energy generation at the point of consumption. We are now gaining further important know-how in an area where we have long been strong,“ said Tedom Group CEO Ladislav Zeman.

The company sees the way forward in hybrid systems combining combined heat and power units with solar power plants and battery storage, or in linking combined heat and power systems with heat pumps. „Combining heat and power generation with other systems, such as heat pumps or solar power plants, makes both economic and environmental sense,“ Zeman said.

The British combined heat and power market is one of the key markets in Europe. The traditional coal powerhouse is relying on it as part of its decarbonisation efforts. The market is expected to grow from an estimated 78 million dollars (roughly 1,8 billion Kč) in 2025 to 106 million dollars (almost 2,5 billion crowns) by 2030, Tedom said.

Engineering and energy group Tedom provides technologies and services for decentralised energy solutions, including the manufacture and operation of combined heat and power units. The group has four manufacturing and development facilities in the Czech Republic. Other group members operate in Germany, Poland, the USA, Slovakia, Central Asia and Britain. The group has around 1000 employees and revenue of around six billion Kč. Tedom is owned by Japanese engineering company Yanmar. Tedom was founded in 1991 in Třebíč.