Qatar District Cooling Company also known as Qatar Cool, a major district cooling company in the region, has announced the acquisition of Cool Tech Qatar and Installation Integrity 2006 (I2I). The acquisition establishes Qatar Cool as the leader, in providing district cooling, and related services in local and regional markets.
Qatar Cool acquired the remaining 49% of the shares from an Emirati stakeholder. And now Cool Tech Qatar and I2I are fully owned by Qatar Cool.
Qatar Cool’s acquisition of these two companies is a further demonstration of its continued expansion and the development of sustainable energy practices in Qatar. The service provided by both Cool Tech Qatar and I2I represents an integral part of efficient district cooling services which show great potential for growth.
Mr. Bader Al Meer, Chairman of Qatar Cool commented on the deal, “Having both these companies as wholly owned subsidiaries of Qatar Cool, represents an extremely important milestone for the development and growth of Qatar Cool, and district cooling in Qatar. Through this acquisition, Qatar Cool will extend the high efficiency of the district cooling plants, to the buildings that they serve. Cool Tech and I2I have a growing customer list in Qatar. We believe this acquisition will be a win-win situation for all parties.”
Qatar Cool’s acquisition of Cool Tech Qatar and I2I is considered an important achievement in the company’s present business and expansion strategy. It will help to further establish Qatar Cool as the leading provider of district cooling, on regional and international levels. Qatar Cool currently provides district cooling services for several prominent developments in Qatar, including The Pearl-Qatar, the largest district cooling plant in the world, and West Bay residential and business district.
I2I is a commissioning specialist for plants, buildings, and installations. I2I does commissioning of all non-process MEP installations, preparation of commissioning method statements. They are specialists in air and water balancing on HVAC systems. While Cool Tech, is a water treatment specialist and has served numerous district cooling plants in Qatar as well as chilled water users’ buildings.
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