North East energy transition group D2Zero has added another acquisition to its growing portfolio as it announces the location of its new headquarters in Aberdeen.
D2Zero finalised the purchase of Hull-based OSL Consulting Engineers, which the company said would add “further engineering expertise” to its 4,000 strong workforce.
The latest acquisition comes after D2Zero owners, private equity firm SCF Partners, combined five of its energy companies to create the £500 million group.
D2Zero said the acquisition of OSL will bring more than 100 “innovative engineering consultants into the group”, with experience across project development, hydrogen solutions and carbon capture and storage (CCS).
OSL now joins Score Group, Hydrasun, Fuel Cell Systems, Powerstar and Global E&C under the D2Zero umbrella.
© Supplied by Ironside FarrarFollowing its formation, D2Zero outlined its focus on four key areas including emissions reduction, ‘clean hydrogen’, power efficiency and management, and CCS.
While the North Sea remains a core focus for the firm, D2Zero said it will also focus on key energy hubs in Germany, Denmark and the United States.
And the acquisition of OSL may not be the only move D2Zero makes this year.
The company said it has a “strong and active pipeline” of opportunities and is looking to complete further acquisitions “in the coming months”.
D2Zero moves into Aberdeen’s ETZ
In addition, D2Zero also announced it will become the latest firm to establish its headquarters in Aberdeen’s Energy Transition Zone (ETZ).
D2Zero chief executive Bob Drummond said the “new home at the heart of the energy transition in Scotland” shows the ambition and momentum of the firm.
“The progress we have announced today provides an insight into high levels of activity and energy within D2Zero,” Drummond said.
© Wullie Marr/ DC Thomson“We have demonstrated that D2Zero is a trusted partner for customers seeking to deliver highly complex projects that are critical to their decarbonisation and net zero objectives.”
ETZ Ltd chairman Sir Ian Wood said decision of D2Zero to establish itself in the ETZ “marks a huge vote of confidence” in the region’s ambition to reposition itself as a globally recognised net zero energy cluster.
“D2Zero are the embodiment of what a just and managed energy transition should be,” Sir Ian said.
“They have taken the bold decision to combine a number of pioneering and successful businesses, each with different sectoral strengths, to capitalise on the vast opportunities presented by new and green energies.”
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