£800,000 boost for sustainable energy supplier
Hams Hall Sustainable Energy (HHSE) has secured an £800,000 loan to support the delivery of new contracts.
The cash from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners, will help the company to purchase and install a sustainable energy system for a Birmingham-based blue-chip customer.
HHSE forms part of a group of companies that have been set up by BasePower which uses combined Heat and Power (CHP) technology to capture the heat formed during power generation. It is then put to productive use during the manufacturing process, resulting in reduced energy costs and carbon emissions for businesses.
HHSE will also use the funding to complete its purchase of a CHP engine for a leading Tier 1 supplier to the global automotive industry.
The blue-chip customer manufactures bumpers, fenders, body panels and body modules for JLR, Nissan and other automotive manufacturers throughout the UK.
The business is led by a strong management team which has previously developed more than 30 energy generating schemes for a range of clients in the public and private sectors.
Dan Poulson, founding director at HHSE, said: “It is great to receive the backing and support of MEIF and Maven. The funding will enable us to provide our key clients with substantial savings on energy that would otherwise have been supplied from the electrical and gas grids, and helps support the UK’s transition to a low-carbon economy.”
Demetri Theofanou, investment manager for Maven, said: “HHSE is a growing Midlands-based business that is deploying tested technology to key blue-chip customers within the region. The business has an established management team which has successfully implemented numerous projects already and we are delighted to support the business, enabling it to meet clients’ needs. We look forward to seeing the business grow over the coming years.”