Ground source heat pump firm looks to scale up

Legal & General has boosted its investment in the Kensa Group by £8 million to accelerate deployment of ground source heat pump technology and networks.

This brings LGC’s total investment in the Group to £15.7 million over two years.

Kensa Group CEO, Dr Matthew Trewhella, said: “This second investment from Legal & General Capital cements the successful partnership we have built together these past two years and marks a major milestone in the development of Kensa’s ground source heat pump solutions.

“The whole heat pump supply chain, including Kensa, will have to expand dramatically to meet the UK’s 2028 heat pump installation target. This investment will allow us to significantly step up our efforts in areas such as R&D and operations, as we continue to prepare for further rapid growth.”

Legal & General Capital invests in green businesses providing scalable solutions to tackle the climate crisis. It joined forces with Kensa in April 2020.

John Bromley, head of clean energy at LGC, said: “We invest our capital in clean energy assets, businesses and technologies which will help accelerate the UK’s progress to a low-cost, low-carbon economy. Our partnership with Kensa is delivering at pace and this further investment in Kensa will enable the business to continue to scale up, bringing vital capacity to the sector.

“We are delighted to continue to support a business which is playing a major role in the transition to low carbon heating in the UK, whilst supporting significant job creation in the low carbon sector.”