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BGF backs Green Energy firm Ecovision with £3.6m funding

BGF backs Green Energy firm Ecovision with £3.6m funding

by | Aug 27, 2014 | Blog, Business News, Company Formation Services, Uncategorized | 0 comments

Business Growth Fund backs Green Energy firm Ecovision with £3.6m funding

The BGF (Business Growth Fund) has invested heavily into the sustainable energy producer and install Ecovision. The BGF backed Ecovision with over £3.6 million worth of funding.

Ecovision is an installer of heat pumps, biomass boilers and solar panels. Founded in 2005 Ecovision has become one of the UK`s leading sustainable energy installers. The company has installed over 5,000 systems across the UK and it is now predicted to increase revenue to over £20 million in the current year.

In May this year, Ecovision sold its Photovoltaic system to the well known insurer Aviva, which gave an excellent return for its investors.

It has since decided to increase its interest in Hassle Free Boilers, this is an eco-friendly boiler which can greatly reduce energy costs with savings of over £300 per year. The advantage of the hassle free boiler is that there are no upfront costs, the consumer pays on a monthly basis for the service and maintenance.

The BGF`s funding is designed to increase the scope and range of the services, helping the company to rely on increased contract revenues. There are also plans to increase the businesses Air Source Heat Pumps, which are designed to replace the energy from usual household heaters.

Ecovision was founded by Peter Randall; Peter was one of the founders of Telco-ISP, which sold for $250m before the company merged with Tiscali. Peter said he is delighted to be working with the BGF who are providing the company with much needed with growth capital and access to expert networks.

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