October 13, 2024 Innasol acquisitions
Innasol Acquisition of Y Pellets will Help Support the UK’s Renewable Energy Drive
Y Pellets and Innasol Group, two leading UK biomass heat companies, have joined forces. This acquisition will help support the country’s drive towards a green recovery and renewable energy use.
Innasol, a major UK and Ireland biomass boiler distributor, has acquired £4m turnover wood pellet company Y Pellets based in Goole, East Yorkshire. The Y Pellets brand will be retained under the Innasol Group.
Silvio Spiess, CEO of Innasol Group, commented, “We have long admired the Y Pellets operation and how the team has grown the business substantially over recent years with a focus on delivering a high-quality biomass product and great customer service. We mirror their approach completely, seeing obvious synergies we could expand upon further.
“This acquisition excites all involved: the existing customer base will keep receiving first-class service and technology; the hardworking staff can fully utilize their expertise as part of the green jobs recovery plan; and the biomass heat industry has a key decarbonization role.”
“Innasol has supplied 4,500 boilers across the UK and Ireland to date, generating more than 450MW of renewable heat. We have a track record of transforming buildings into green, more energy-efficient spaces, which a nationwide network of qualified installers further enhances. Therefore, by welcoming Y Pellets into the fold, we can offer an even better, premium renewable energy solution.”
The Fastest-Growing Wood Pellet Supplier
Y Pellets, founded in 2016, is now the UK’s fastest-growing wood pellet distributor, with over 500 customers. Y Pellets supplies wood pellets to local authorities, schools, agricultural producers, and care home organisations to small businesses and homeowners.
Neil Holland, Y Pellets’ Founding Managing Director, will join Innasol’s Board while staying in his current role.
“The UK aims to move from fossil fuels due to the climate crisis. The heating industry leads to decarbonising buildings. With advanced tech, premium biomass fuel, and state-of-the-art renewable boilers now under one roof, Y Pellets and Innasol bring a professional, market-driven biomass approach supporting net zero that customers appreciate.”
“We’re delighted to continue with our growth plans and link up with one of the most well-known names in the industry.”
London-based finance company Downing and ARC Applied Sciences Ltd jointly own Zora Energy Renewables Ltd. Innasol will now purchase all the shares in this business.
ENDS 16/12/2020
Editors note:
- Innasol is a leading UK renewable heating company across Biomass and Solar PV heating. For more information, please call 01621 892613 or go to innasol.com.
- Y Pellets delivers premium EN Plus A1 biomass wood pellets to UK homes and businesses. To discuss wood pellet requirements, please call 01405 840095, email: info@ypellets.com or go to ypellets.com
