A pivotal step for geothermal energy and Diverso's Canadian-built utility platform

TORONTO, March 10, 2026 /CNW/ - Diverso Energy, North America's leading fully integrated geothermal utility company, today announced a strategic partnership with U.S.-based Dandelion Energy aimed at accelerating large-scale deployment of geothermal infrastructure across new residential housing developments in the U.S.

The collaboration brings together Diverso's utility ownership business model and long-term operations platform with Dandelion's builder deployment capabilities and innovative geothermal delivery model. In turn, homebuilders can adopt geothermal heating and cooling without the typical upfront capital investment or premium to the homeowner.

Together, the companies intend to remove the barriers to large-scale geothermal adoption across new low-rise communities to meet the demand for fully-electric housing solutions in the U.S.

"Geothermal has reached an inflection point," said Tim Weber, CEO of Diverso Energy. "Developers are no longer asking whether geothermal works — they're asking how to implement it consistently across portfolios. As the industry leader in Canada, it was a perfect opportunity to partner with U.S. industry leader Dandelion, to create standardized infrastructure delivery in the United States."

While geothermal systems have long been recognized for their performance and reliability, widescale adoption has historically been constrained by fragmented project delivery models and cost premiums.

Diverso's Energy-as-a-Service platform addresses this challenge by designing, building, owning, and operating geothermal systems as long-term utility infrastructure, shifting energy systems from capital expenditure to predictable operating costs for homeowners. As a portfolio company of CVC DIF, the infrastructure strategy arm of CVC, a leading global investments manager with over €200bn of AUM, Diverso is fully capitalized to finance and operate geothermal systems as durable, institutional-grade utility assets.

Under the partnership, Diverso's proven business model will support Dandelion's Geo-as-a-Service delivery approach, enabling scalable geothermal deployment across entire U.S. housing communities.

"Dandelion's mission is to make geothermal a mainstream home heating and cooling solution," said Dandelion Energy CEO Dan Yates. "By combining Dandelion's design and deployment capabilities with Diverso's financing and infrastructure platform, the superior HVAC solution becomes the easiest and most cost-effective choice for builders across the country."

Across North America, housing markets are increasingly focused on delivering new housing at scale at no additional cost to homeowners. The companies believe geothermal infrastructure can play a central role in that transition by providing:

• predictable long-term operating costs
• reduced mechanical complexity
• improved building resilience
• and scalable electrification compatible with evolving building standards.

Conventional heating and cooling equipment is noisy, inefficient, takes up valuable outdoor space, and must be included in the cost of the home. As an alternative, this partnership advances a geothermal business model where the energy infrastructure is planned, financed, and operated like any other essential utility.

"The partnership provides an opportunity for geothermal to transition from early adoption toward mainstream infrastructure deployment," says Weber. "We see ourselves as a real estate partner—our role is to remove the barriers to entry so developers can focus on delivering affordable housing."

About Diverso Energy

Diverso Energy Inc. offers a unique geoexchange utility model for low-rise, multi-family, office, and institutional buildings. Diverso designs, builds, owns, and operates geoexchange utility systems allowing clients to leverage the significant benefits of geoexchange without traditional financial or operating risks. Diverso has helped hundreds of clients, including some of Canada's leading real estate developer partners, benefit from its unique combination of financial and technical solutions, accelerating the transition to electrified buildings. www.diversoenergy.com

About Dandelion Energy

Dandelion Energy is a leading provider of residential geothermal heating and cooling solutions with a mission to make geothermal energy accessible and affordable for all homeowners. Since 2017, Dandelion has installed thousands of residential geothermal heat pumps and over 1 million linear feet of ground loops throughout the United States. The nation's leading homebuilders partner with Dandelion to bring the benefits of geothermal to their home buyers. For more information, please visit www.dandelionenergy.com.

About CVC DIF

CVC DIF is a leading global mid-market infrastructure equity fund manager. Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c.€23 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation. With over 250 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities. CVC DIF forms the infrastructure strategy of leading global investments manager CVC. This partnership allows CVC DIF to benefit from CVC's global platform, with 30 offices across six continents. For more information, please visit www.cvcdif.com.

SOURCE Diverso Energy LP