Ancala Partners acquires majority of Noventa Energy Partners

• Noventa, based in Toronto, has a pipeline of projects across Canada, the UK and the US
• Ancala’s investment will support Noventa’s existing management team in its global growth plans and accelerate the delivery of a significant pipeline of wastewater energy projects
• Heike Bergmann, and Pelino Colaiacovo will join Noventa’s board as non-executive chair and as an independent director, respectively

Ancala Partners has acquired a majority interest in Noventa Energy Partners, a Canadian renewable energy company that provides services to decarbonize the heating and cooling of buildings. No financial details of the transaction were disclosed.

Ancala made the investment through Ancala Infrastructure Fund III.

Noventa, based in Toronto, has a pipeline of projects across Canada, the UK and the US.

Ancala’s investment will support Noventa’s existing management team, led by Dennis Fotinos, founder and CEO, in its global growth plans and accelerate the delivery of a significant pipeline of wastewater energy projects. The firm will provide additional funding to support the delivery of these upcoming projects.

“Building emissions are currently responsible for over a third of global energy related carbon emissions. Dennis and his team at Noventa are uniquely placed to help building owners to significantly reduce their carbon emissions and heating costs while improving their energy ratings,” said Lee Mellor, partner, Ancala Partners, in a statement.

Heike Bergmann, a renewable energy expert, will join Noventa’s board as non-executive chair. Pelino Colaiacovo will also join the board as an independent director.

Headquartered in London, Ancala is an infrastructure investment manager focused on delivering enhanced returns from mid-market infrastructure investments across Europe.