Vyncke acquires Swedish combustion specialists Petro Bio
Belgium-headed biomass combustion developers, designers and providers Vyncke NV has acquired Swedish combustion specialists, Petro Bio AB. With the acquisition, effective as of February 1, Petro Bio will operate as an independent company within the Vyncke Group. A first project in which Vyncke will use Petro Bio wood powder burners is already underway in Poland.
Based in Gothenburg, Sweden, Petro Bio specializes in designing burners for all types of solid, liquid and gaseous fuels in the 2 MW to 100 MWth range. Employing around 30 staff, the company has developed a specific burner expertise for wood pellet and wood powder combustion.
We welcome Petro Bio into the Vyncke family of companies and look forward to being able to share their burner expertise. By doing so, we add an important dimension to our total customer offering, commented Dieter Vyncke, partner and CEO of Vyncke.
For over a century, Vyncke has developed and supplied industrial biomass and solid recovered fuel (SRF) fired heat and power plants based on its proprietary moving grate technology. With installations in 85 countries, the fourth generation family-owned company designs and manufactures steam, hot water, thermal oil and hot gas plants with thermal energy from 1 – 100 MWth and electrical power from 0.5 – 15 MWe.
With the acquisition of Petro Bio, the privately held company is able to expand its portfolio of possible solutions for customers’ energy needs. The value of the deal has not been disclosed.
The deal provides completely unique opportunities for positive exchange. Both in terms of product and market, we complement each other almost completely without overlap. We are looking forward to an exciting cooperation and expansion of our customer offering, said Johanna Lindén, CEO, Petro Bio AB.
According to Lindén, Petro Bio will continue to operate as an independent sister company within the Vyncke group of companies. She also revealed that the first project in which Vyncke will use Petro Bio burners is already underway.
The project is a 4.5 MW hot water boiler with wood powder burner for an IKEA furniture manufacturing facility in Poland. Here the wood dust from the production process will be used to fuel the boiler. As a Swedish company, it is especially heartwarming to have an installation for such an iconic Swedish brand, said Johanna Lindén adding that it is the fifth project with IKEA for Vyncke.