CBRE Investment Management (CBRE IM), on behalf of a fund managed by its private infrastructure division, has acquired Aitoenergia, a Finnish energy-as-a-service (EaaS) provider, in a strategic bolt-on investment to expand its geothermal energy platform, Geonova.
The acquisition marks a significant milestone in CBRE IM’s strategy to scale Geonova into a market leader in sustainable heating solutions. Aito’s portfolio of 62 long-term EaaS contracts will be integrated into Geonova’s operations, nearly tripling its existing contract base and expanding its geographical footprint across Finland.
As part of the transaction Tuomas Humalajoki, the current CEO of Aitoenergia, will take over responsibility as CEO of the combined group effective immediately.
Founded in 2022, Geonova has quickly established itself as a pioneer in decentralized heating and cooling services using ground source heat pump (GSHP) technology. The addition of Aito’s assets and expertise wi
