SEATTLE (AP) — Seattle Steam, a private utility that provide steam heat to about 200 buildings in downtown Seattle, has been sold to Toronto-based Brookfield Asset Management.
The sale amount was not disclosed.
Seattle Steam was founded in 1893. In 2010 it installed a biomass boiler that generates steam from burning wood waste from tree trimming, broken shipping frames and demolition.
The Seattle Daily Journal of Commerce reports (http://bit.ly/1sqIdPC) the sale has to be approved by the Seattle City Council to transfer the franchise for 18 miles of pipes under city streets.
Information from: Seattle Daily Journal of Commerce, http://www.djc.com/