SEATTLE - Seattle Steam, a private utility that provides 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 the sale has to be approved by the Seattle City Council to transfer the franchise for 18 miles of pipes under city streets.