Sustainable business secures £6m investment creating jobs in London, the North East and Leeds
A specialist energy and water efficiency company has secured £6m funding from HSBC UK to increase working capital as it delivers significant projects and pursues growth through acquisitions.
Cenergist, which is headquartered in Washington, near Sunderland, works with local authorities, water utilities and energy companies to reduce the carbon impact of buildings by providing water efficiency and renewable heating systems.
Cenergist provides water efficiency and renewable heating systems, with patented control flow technology underpinning its energy and water offerings. The technology drives more efficient water and energy use helping organisations meet sustainability goals, reduce costs and comply with regulations.
Iain Richardson, CFO at Cenergist, said: “Primarily, we support clients to meet their Net Zero and sustainability goals. This includes building owners that are upgrading their heating and hot water systems as well as commercial clients such as hotels and water utilities seeking to reduce water wastage.”
The fast-growing business provides design and install services across the UK and in Europe, and the funding from HSBC UK will provide necessary working capital for the business to complete large-scale pieces of work, while giving it the flexibility to target strategic acquisitions.
Ian added, “This financial support from HSBC UK will ensure we can help as many customers as possible reach their environmental targets, both within the UK and European markets.”
The funding will also enable Cenergist to create at least 40 new jobs in the North East, Leeds and London to support across business development, project management, tenant liaison, site management and finance as the company delivers these significant pieces of work.
Rachael Guest, relationship director at HSBC UK, added: “Cenergist is making a real difference to the environmental impact of buildings across the UK and into Europe. We’re delighted to provide the business with funding to support its continued growth and create jobs as more and more commercial property owners invest in decarbonisation.”
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