London legal firm invests in clean energy company
A London legal firm has announced that it has taken a 36 per cent stake in a heat pump technology group.
Legal & General Capital (LGC) has invested in the Kensa Group, which specialises in ground source heat pump technology.
The investment adds to LGC’s clean energy investment portfolio, which now includes low carbon heat, transport and power generation.
The deal follows Legal & General’s increased stake in Pod Point, an electric vehicle charging company.
Kerrigan Procter, CEO of Legal & General Capital, commented: “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 investment in Kensa will enable the business to scale up at pace, bringing vital capacity to the sector.
“Our partnership marks a major milestone for Legal & General as we look to invest in the transformation of the energy system, and also add critical capabilities to deliver our own ambitious target to achieve net zero homes.
“We are delighted to invest in a business that will play a major role in the transition to low carbon heating in the UK and support significant job creation in the low carbon sector.
“Our investments in clean energy are backing businesses that already employ more than 400 skilled workers in the UK green economy and we expect further accelerated growth in employment in the sector as the UK invests for the future post COVID-19 where tackling climate change should dominate the agenda.”
Simon Lomax, CEO of the Kensa Group, added: “We are excited that Legal & General Capital has recognised that Kensa’s ground source heat pump systems will play a major role in the transition towards low carbon heating in the UK.”
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