San Francisco, Feb 10 — ERA Partners LLC (“ERA”) today announced a majority equity investment into GeoTility Systems Corp. (“GeoTility”), a fully integrated geoexchange utility platform with operating systems in Alberta and British Columbia, Canada; Georgia; Iowa; Maryland; Michigan and Washington, United States. This strategic growth investment seeks to accelerate the expansion of GeoTility’s heating and cooling solutions throughout Canada and the United States.
Based in Kelowna, British Columbia, Canada, GeoTility provides a heating and cooling-as-a-service (“HCaaS”) solution that can help reduce upfront capital barriers and is intended to provide long-term, more affordable, and low-carbon heating and cooling for its customers. The company also offers full-service design-build geoexchange solutions. GeoTility owns and operates more than 1,000 systems under its HCaaS model and has designed and/or installed more than 100 design-build geoexchange projects, including some of the largest geoexchange projects in North America. In partnership with ERA Partners, GeoTility will continue to focus on providing geoexchange solutions to residential, multi-family, commercial, and industrial real estate projects across North America.
“We believe North America’s rapidly increasing energy demand creates favorable tailwinds for the deployment of GeoTility’s reliable, energy efficient geoexchange solutions,” said Stuart Yanow, CEO of GeoTility. “We are excited to combine our engineering and utility capabilities with ERA’s experience scaling infrastructure platforms to help strengthen our ability to deliver value to landowners and accelerate the transition to energy efficient heating and cooling across the continent.”
Ed Leung, ERA Managing Partner, added, “GeoTility has built a fully integrated platform with an impressive track record and a growing portfolio of assets. Supported by strong market fundamentals, we see a compelling opportunity to help the company meet the growing demand for long-lived geoexchange infrastructure from leading real estate developers and operators in the United States and Canada.”