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23 August 2024

Vital Energi acquires stake in CVG as part of asset growth strategy

Investment supports acquisition of Gloucestershire Science and Technology Park, advancing Vital Energi's £1bn+ investment pipeline and asset growth strategy

Sustainable energy solutions company Vital Energi has made a strategic investment in Chiltern Vital Group (CVG), significantly expanding its capability to own and operate energy generation and storage assets to feed into networks at scale.

This strategic move is part of Vital Energi's ambitious £1bn+ investment pipeline, aimed at significantly expanding its portfolio of sustainable energy assets and reinforcing its position as a key player in the UK's transition to a low-carbon future. The investment in CVG, coupled with CVG's purchase of the Gloucestershire Science and Technology Park in Berkeley, marks a major milestone in Vital Energi's asset ownership journey.

The 40-acre Berkeley site, formerly an active power plant until 1989, will be transformed into a hub for research, education, and innovation in sustainable energy technologies, with a focus on large-scale energy networks. The site has a rich history as one of the world's first civil nuclear power stations, with an adjoining nuclear research laboratory that played a key role in developing the UK's nuclear fuel programme.

Vital Energi plans to collaborate with leading educational institutions to foster skills development in the sector, ensuring long-term, high-value employment opportunities amounting to hundreds of regional jobs for the local community. Key partners in this endeavour include the University of Bristol, the National College for Nuclear, Berkeley Green University Technical College (UTC), and SGS College. By combining cutting-edge research with practical skills training, Vital Energi aims to create a talent pipeline that will drive innovation in energy network solutions for years to come.

The site is earmarked for the development of small modular reactors (SMRs), with companies like Rolls-Royce SMR expressing interest in locating their operations at Berkeley. This aligns with the UK government's plans to advance nuclear energy technology and combat climate change.

"This strategic acquisition and our investment in CVG align perfectly with our long-term vision of investing in, developing, and operating energy generation, infrastructure and storage projects across the UK at an unprecedented scale. We are really excited to work with key educational partners to help broaden and grow skills in this industry as well as create jobs for the future."

Gary Fielding, Chairman of Vital Energi

Chris Turner, CEO of Chiltern Vital Group, added:

"Vital Energi's expertise in energy infrastructure, combined with the company’s investment, adds tremendous value to this project. Together, we will drive forward the development and implementation of large-scale energy networks. We anticipate this collaboration will have significant positive impacts on both the local and national economy, establishing new standards for energy distribution and efficiency."