Cogenpower to refocus business on district heating tech

Italian district heating company Cogenpower is to withdraw from its gas and power business in order to focus on growing its combined heat and power (CHP) and district heating offerings.

The firm said it will withdraw from its Cogenpower Gas and Power division, which sells natural gas and electricity to domestic and commercial customers in Italy’s Turin region, in order to focus on further penetration into the global district heating market through its Ananconda automated CHP generation and distribution technology.

In a statement, Cogenpower’s Board said: ‘An internal review concluded that [the Gas and Power business] is a distraction from the strategic aims of the Group, particularly in light of the drop in energy prices in the market over the last 18 months and the new regulations in Italy that are putting further obligations on resellers of electricity, such as gas and power.’

Cogenpower’s CEO Francesco Vallone said: ‘The gas and electricity retail business was a legacy business and our withdrawal allows us to reposition the company around the Anaconda technology, which is what will ultimately create value for our investors.’

The firm said it is targeting district heating markets in Italy and the UK.à‚ 

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