A North East specialist energy and water efficiency company is set to create 40 jobs and embark on the acquisition trail after securing a £6m funding package.
Cenergist, which is based in Washington, Tyne and Wear, works with local authorities, water utilities and energy companies to reduce the carbon impact of buildings by providing water efficiency and renewable heating systems.
Launched 10 years ago, Cenergist provides water efficiency and renewable heating systems, with its patented technology helping to drive more efficient water and energy use, as well as helping organisations meet sustainability goals, reduce costs and comply with regulations.
Read more: Find more North East business news here
The business, which provides design and install services across the UK and in Europe, has now secured the multimillion-pound package from HSBC UK to increase working capital for bigger projects, while looking to grow through acquisitions.
The package will provide the capital it needs to complete large-scale pieces of work, and give it the flexibility to target strategic acquisitions.
The funding will also enable Cenergist to create at least 40 new jobs in the North East, Leeds and London across business development, project management, tenant liaison, site management and finance as the company delivers these significant pieces of work.
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. As organisations across all sectors have become increasingly driven to reduce carbon impact in recent years, we’ve seen a significant spike in demand for our services and there are no signs that demand is slowing down.
“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.”
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.”
