The recent purchase of 1.77 million shares of Tabreed by BTU Group is considered to be largely related to the company’s prime industry, district cooling. District cooling has key advantages over traditional air conditioning in urban areas, including a reduced cost and less pollution and wasted space. The company has 22 plants located in cities throughout the UAE, which super cool water before running it through a series of specially insulated pipes. These pipes carry the water to the buildings of customers, where air is forced over the pipes, cooling it and producing effective air conditioning. This process is much less expensive than legacy air conditioning, due to the economy of bulk.
BTU Group is a company first established in 2001 with the intention of capitalizing on the privatization and deregulation of energy related industries in the Middle East, and in North Africa. The company acquires access to resources and projects in the power industry and synergistic industries including gas, oil, and petrochemical companies. The company develops greenfield and brownfield projects, and is invested in by some of the areas leading publicly traded institutional investors.
BTU Group’s CEO, Wael Almazeedi, recently spoke about the acquisition of the shares in Tabreed. He said that he had been “following Tabreed’s progress for over a year now” and that he believes “that it represents an exceptional long-term investment opportunity.” He went on to describe the company’s business model as “robust” and said that it bore many similarities to typical utility companies in Europe, Japan, and the United States. He complimented Tabreed’s world-class management tea, praising them for helping the company become so well known within the UAE.
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