Orbital Energy Group has agreed to sell its U.K. gas business, Orbital-UK, to nZero Group for an undisclosed sum.
Effective immediately, nZero Group will assume operations of Orbital's U.K. and European business. Orbital retains potential licensing and royalty rights to certain GasPT projects.
“This transaction is yet another step in Orbital Energy Group's transformation to a diversified infrastructure services company as we move forward with an aggressive and disciplined strategy to tap into the increasing secular demand trends in the electric power, telecommunications and renewable industries,” said Jim O'Neil, vice chairman and CEO of Orbital.
Matt Allen, managing director of nZero Group added, “This deal represents a significant step forward in our strategy to become a key contributor in the U.K. net-zero energy transition by bringing under common ownership two of the U.K.'s leading measurement and control partners across the natural gas, low carbon hy