October 17, 2018

Adven has acquired heat generation business line from Pelletiküte AS in Estonia

With the acquisition Adven‘s portfolio in Estonia grows by ten new pellet heating plants. Pelletiküte AS is part of the Graanul Invest Group.

Adven will supply heat to the Kose district heating region, consisting of three heating plants in Kose, Kose-Uuemõisa and Ravila. Along with the acquisition Adven also acquired seven heating plants throughout Estonia supplying heat to corporate clients.

CEO of AS Graanul Invest Raul Kirjanen is very satisfied with the transaction. “Our focus is on timber and its utilization, so the generation of heat has become more of a side activity after our rapid growth of recent years,” said Kirjanen about the decision.

“We discussed this and came to the conclusion that exiting the side business would be reasonable, as we would then be able to focus more on our principal activity. Therefore, we decided to entrust our heating plants to a specialist such as Adven and concentrate on the production of pellets and the development of our core business.”

CEO of Adven Eesti Urmo Heinam said that a contract benefits both parties. “Every company strives to be the best in their own field and try to guarantee the consistent growth of the business. Achieving this goal is difficult if you focus on several activities at the same time. Therefore, I find that the decision of Graanul Invest to entrust heat generation to a company like Adven is very reasonable. The decision demonstrates a good example for other production companies. At the same time, the expansion of the company with a professional nationwide team, helps in increasing the efficiency and thereby offers even more added value to clients.”

Graanul Invest is a company that generates renewable energy and develops forestry and bioprocesses. The Graanul Invest Group has grown into the largest pellet producer in Europe with pellet plants and combined heat and power plants throughout the Baltic States.​

Share content