The company will start production from its 650,000 sq ft manufacturing facility in Corby in 2024, where it will employ 1,000 people from the local community and manufacture up to 4,000 ultra-low carbon homes each year.
Jordan Rosenhaus, CEO of TopHat said: “The investment TopHat has received from Homes England alongside others, including Goldman Sachs, Persimmon and Aviva Capital Partners, reflects the continuing recognition that it is simply not possible to build enough new homes, including affordable homes, without a strong volumetric modular sector.
“Following some recent, well-publicised challenges, which will always be faced by pioneering, innovative sectors, I am especially pleased that our investors have all recognised the critical importance of expanding the capacity of the sector.”
Peter Denton, chief executive of Homes England, said: “This funding will support TopHat to manufacture more than four times the number of new homes it currently can each year. Not only will this significantly increase the delivery capacity of the MMC sector as a whole in the UK, it will also create 1,000 jobs.
“It is vital we continue to support innovations that promote a diverse, efficient homebuilding sector. This is about a long-term commitment to driving forward the creation of quality, thriving places for people to live and work.”
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