Freshstream, a London, UK-based mid-market private equity firm has invested in Project Better Energy, a Burton-upon-Trent, UK-based solar and renewable energy service provider.
The amount of the deal was not disclosed. Freshstream acquired a strategic stake from the company’s shareholders, who are reinvesting alongside the firm.
The company intends to use the proceeds from the investment to accelerate its growth, expanding the product range and customer footprint as demand for its services continues to grow.
Founded in 2011 by Chief Executive Officer Simon Peat, an electrical engineer who spotted an opening in the residential solar market, Project Better Energy has since expanded its product range to include off-peak power storage, electric vehicle chargers, air-sourced hot water cylinders and infrared heaters, providing a diversified range of green solutions across both the residential and commercial property sectors.
The business has experienced significant growth over the last 12 years and now employs approximately 300 people across its divisions and generates around £100m worth of sales on an annual basis. It has also become one of the leading players in the domestic renewable energy sector in the UK, with nearly 40,000 solar energy systems sold and installed through its Project Solar UK division since inception.
The company’s Project EV division has sold to date approximately 80,000 electric vehicle chargers across the residential, commercial and public sectors, such as local councils and the NHS, as well as major retailers including B&Q and Arnold Clarke.
Project Better Energy has also established relationships with major British housebuilders and Housing Associations, helping to install EV charging points at newbuild developments and to build and convert energy efficiency properties via Project CÜRV.
FinSMEs
24/10/2023