Pantheon Infrastructure invests in US district energy

Pantheon Infrastructure invests in US district energy.

Pantheon Infrastructure has co-invested in a US district energy platform through funds managed by Vauban Infrastructure Partners.

The London-listed global infrastructure fund said it has invested $46.1m (€43.1m) in Cartier Energy, a provider of diversified energy services such as heat, cooling and electricity.

Cartier Energy owns Detroit Thermal Energy in Michigan; Montclair State University in New Jersey; Hartford Steam and Fuel Cell, Midtown Thermal in Atlantic City, New Jersey; Wilmington District Energy and Dover Energy in Delaware; and Industrial District Energy Assets in New Jersey and Massachusetts.

Richard Sem, partner at Pantheon Ventures, Pantheon Infrastructure’s investment manager, said: “Investment in resilient, sustainable and energy-efficient assets is integral to the global energy transition.

“We’re delighted to be partnering with an experienced investor and company management team as we continue to build a robust portfolio that unlocks access to sectors benefitting from strong growth drivers.”

Back in January, Vauban announced the acquisition of a portfolio of district cooling and heating systems in the US from Basalt Infrastructure Partners II and DCO Energy.

The French infrastructure fund manager bought DB Energy Assets and Beacon Energy Holdings, which collectively own the eight assets and a management team.

Vauban has been active in the district energy and heating sector since 2016 and at the time of the acquisition, held controlling interests in assets in Finland, France, Italy, Norway and Spain.