Legal & General boosts investment in the Kensa Group to scale up ground source heat pump deployment
The Kensa Group, UK manufacturer and installer of ground source heat pumps, today announced Legal & General Capital (LGC) has made a further £8 million investment into the company, bringing LGC’s total investment to £15.7 million over two years.
The capital will support the Kensa Group as it continues to scale up rapidly to accelerate the deployment of ground source heat pump technology and networks to meet demand, whilst meeting LGC’s ambitions to continue to support the clean energy transition.
Dr Matthew Trewhella, Kensa Group CEO: “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.”
The Climate Change Committee and the Government’s Heat and Buildings Strategy made clear that low carbon heat pumps are a key component in the UK’s journey to zero carbon and they can reduce an average household’s fuel bill of up to 27%, saving them approximately £261pa1, helping people out of fuel poverty.