Rendesco raises £6m from Clean Growth Fund, Eurazeo, and Aviva Ventures to expand clean heat networks.
The £6m round was led by Clean Growth Fund, Eurazeo, and Aviva Ventures to scale low-carbon heating infrastructure.
Clean heat network developer and operator that designs, installs, and manages ground and water source heating systems for properties.
London-based clean heat network developer Rendesco has secured £6m in a funding round led by Clean Growth Fund, Eurazeo, and Aviva Ventures, with participation from existing backer Copley Point Capital. The fresh capital will be directed towards expanding the firm operations across the UK and European energy markets while developing advanced home energy management systems.
Founded in 2012, the company specialises in replacing traditional gas grid infrastructure with sustainable ground and water source heat networks. The injection of funds coincides with tighter environmental regulations on domestic heating and follows the creation of Last Mile Heat, a joint venture established to help housebuilders install low-carbon heating systems more affordably.
From the founder
"I am pleased to welcome Clean Growth Fund, Eurazeo, and Aviva Ventures as investors in Rendesco."
Alastair Murray
CEO and founder at Rendesco
Investor perspective
"Decarbonising heat is critical to achieving our net zero targets. Rendesco’s heat network solutions provide a cost-effective and efficient route to delivering the low-carbon heat required for the transition away from gas to renewable alternatives. This investment aligns with our commitment to empower early-stage entrepreneurs to tackle the climate change crisis."
Susannah McClintock
Investment Partner, Clean Growth Fund
Use of funds
- 01Scale operations
- 02Continue product development
- 03Expand into international markets
