Sweco Group, a European architecture and engineering consultancy, is building up its geothermal prowess to add to its existing renewable energy capacities.
The company recently announced the acquisition of VHGM, a small Dutch firm specialised in geothermal energy consulting.
It will add net sales of SEK 22mn (US$2.3mn) plus around 22 experts to the group, a Sweco statement noted.
As well as geothermal, VHGM is also active in the aquathermal space, the sustainable heating and cooling of buildings by extracting heat and cold from surface water, wastewater or drinking water.
Because the Netherlands consists of a fifth of surface water, aquathermal is potentially deemed a major source for a sustainable way of heating and cooling homes and buildings.
The acquisition also follows news of Sweco signing a new framework agreement with Rijkswaterstaat, the Dutch government agency responsible for the modernisation and development of infrastructure and water management.
This entails providing engineering services for renewal projects over the next four to six years, to support major upgrades of primary infrastructure in the Netherlands.
In its recent Q3 results, Sweco reported “good demand” across the energy, infrastructure, water and environment segments of its business.
The interest in geothermal ties up with Sweco’s other areas of business, with a focus on clean, advanced infrastructure development.
One of the flagship engineering projects acquired during Q3 is the design of Finnish food company Fazer’s future chocolate factory in Lahti, which will operate without direct carbon dioxide emissions.
“Projects won during the quarter highlight Sweco's role in future-proofing societies and industries,” said Åsa Bergman, Sweco CEO, in a Q3 call with investors.
Sweco also announced a number of other acquisitions in Q3, including Fimpec Group, a Finnish consultancy that employs around 400 experts, with specialist capabilities in renewable energy, hydrogen, the bio- and circular economy, forest industry, batteries and critical minerals.
It also moved for Belgian consultancy, assar architects, a leading firm in large-scale public and private sector projects, including offices and commercial buildings, healthcare, defence, education and urban planning.