17 December 2020
Y Pellets and Innasol Group, two of the most successful companies operating within the UK’s biomass heat industry, have joined forces in an acquisition that will help support the country’s drive towards a green recovery and renewable energy use.
Innasol, one of the biggest biomass boiler distribution companies across the UK and Ireland, has acquired Zora Energy Renewables Ltd (trading as ‘Y Pellets’), a £4m turnover wood pellet distributor 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. This mirrors our own approach completely and therefore we could see that there were obvious synergies that could be expanded upon further.
“The acquisition presents a very exciting opportunity for all those involved from the existing customer base, who will continue to receive a first class service backed by best in class technology, to the hardworking staff, whose knowledge, skills and expertise we can fully harness and support further as part of the country’s green jobs recovery plan, and the wider biomass heat industry which has a key role to play in heat decarbonisation policy.
“Innasol has supplied 4,500 boilers across the UK and Ireland to date, generating more than 450MW of renewable heat. Our track record transforming buildings into green, more energy efficient spaces is further enhanced by a nationwide network of qualified installers. Therefore, by welcoming Y Pellets into the fold, we can offer an even better, premium renewable energy solution.”
Y Pellets has become the fastest growing wood pellet distributor in the UK since being founded in 2016 with more than 500 customers from local authorities, schools, agricultural producers and care home organisations to small businesses and homeowners.
Founding Managing Director, Neil Holland, who has led Y Pellets’ significant growth and expansion in the UK over recent years, will stay in his current role and now join the Innasol Board.
He said, “The UK is now very much focused on a move away from fossil fuel usage due to the climate crisis, especially in relation to heating where there is a determined effort to decarbonise homes and commercial buildings. With advanced technology-led processes, premium biomass fuel and state-of-the-art renewable energy boiler systems all supplied under one roof, Y Pellets and Innasol can now bring a very professional and market-driven approach to the biomass heat sector that supports wider net zero efforts and which all 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.”
Zora Energy Renewables Ltd is owned jointly by London-based finance company, Downing, and ARC Applied Sciences Ltd. Innasol will now purchase all the shares in the business.
To find out more contact our Customer Care team on 01405 840095