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A cool €31m boost for the Cool Planet group

February 14th, 2020 8:02 PM

By Kieran O'Mahony

Norman Crowley with Health Minister Simon Harris. Ballinascarthy man Crowley’s Cool Planet firm operates in 26 counties and has now secured funding from a French investor.

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THE Cool Planet Group – set up Ballinascarthy entrepreneur Norman Crowley –  has raised €31m to aid its mission to positively impact the global climate crisis.

The company, based in the  Powerscourt Estate in Wicklow operates in 26 countries. It has secured the funding from French asset management and investment group, Tikehau Capital, in exchange for a significant minority stake of the company.

It will be used to accelerate the global expansion of its energy services division, Crowley Carbon.

Crowley Carbon chief executive Norman Crowley said the funding will allow the company to build on its success in expanding into the enormous global energy efficiency market. It will also help the group continue to have a positive impact on the global climate change crises.

‘Tikehau Capital’s global presence, combined with their investment, will help us drive business globally,’ he said. ‘The additional capital is further validation of the group’s success and growth prospects and also validates our mission in tackling climate change.

Tikehau Capital said Crowley Carbon is a global leader in energy efficiency services and that it made the investment, which is its first transaction in Ireland, as there is a ‘large and undeserved addressable market for industrial energy efficiency,’ and because Crowley Carbon has ‘a geographically diversified platform’ with offices in 12 locations with a top tier management team led by Mr  Crowley.

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