Multinational energy group TEDOM strengthens its position in the key energy business by acquiring the Italian cogeneration leader Intergen

September 25, 2024

The multinational energy group TEDOM is significantly strengthening its cogeneration business. TEDOM is acquiring a 100% stake in Intergen, Italian’s top manufacturer of cogeneration units. In the EU, where the European Commission has made cogeneration a key part of the energy mix, TEDOM is becoming a major player. 

Lombardy-based company Intergen was founded in 1987, building on the previous activities of its founder Giorgio Keller. The company remained in the hands of the Keller family until now. With over 450 units sold, totaling nearly 600 megawatts of electrical installed power, Intergen is an Italian leader in designing, building, and servicing cogeneration and trigeneration plants. It specializes in custom made and medium-large cogeneration plants and critical power system applications. It also serves as the exclusive distributor of MWM engines from the Caterpillar group for the Italian market.  

With this acquisition, TEDOM gains valuable know-how in the field of modular cogeneration and significantly strengthens its presence in the Italian market. Italy is the fourth largest European market for cogeneration units. Thanks to the combination of its climate and developed industry, it offers interesting opportunities in the field of energy transformation. The Intergen brand will continue to operate in the Italian market, but it will now align itself with the TEDOM family. 

“This is another important step in the development of our cogeneration business. This acquisition combines TEDOM’s strong product portfolio and manufacturing base with Intergen’s excellent position, infrastructure, and team in Italy. This will allow TEDOM to further its vision of being a next-generation international energy group capable of efficiently connecting energy services with in-house engineering production,” said Ladislav Zeman, CEO of the TEDOM Group. 

"Intergen is one of the key players in the Italian market. Our first cogeneration units defined the European standard, and our technology has powered thousands of important companies that continue to drive the success of the Italian economy today. It’s great that we can continue our good work with a partner who can help us grow and complement each other," says Alberto Guidotti, CEO of Intergen.   

TEDOM Reports Record Half-Year 

The acquisition comes at a time when cogeneration is once again in the spotlight as a key element of the energy mix. Interest in cogeneration is also rising sharply, as evidenced by TEDOM's record sales. In the first half of the year, the company reported a year-on-year increase in delivered cogeneration units by more than a 20 %. In addition to industrial facilities, cogeneration is increasingly finding its place in district heating plants, hospitals, hotels, and public buildings and apartment blocks. Its advantages include not only exceptionally high efficiency and independence from power outages, but also the ability to operate as a part of grid balancing services.  

“We see that Europe has once again realized how crucial cogeneration is for the energy future. Its high efficiency enables CO2 emissions reductions and contributes to meeting climate goals. At the same time, it enhances energy security through decentralized energy production and better integration of renewable sources. It’s exciting that one of the global leaders in this field is our company,” concludes Ladislav Zeman.  

In September 2024, Jet Investment, as the majority shareholder of TEDOM, signed an agreement (SPA) to sell TEDOM to the global Yanmar Group. Upon completion of the transaction, Yanmar will acquire 100% ownership of TEDOM.