North East Growth Plus Fund backing helps Newcastle energy consultants go for growth with energy-saving product
An energy consultancy based in Newcastle is expanding with the
backing of a six-figure mezzanine loan from the North East Growth
Plus Fund managed by FW Capital.
FW Capital’s loan has enabled Cenergist to become the exclusive
European distributor of the patented Showersmart HL2024 flow
Easily fitted to most kinds of showers,
Showersmart stabilises water flow regardless of pressure and
In long-term trials, 400 households equipped
with Smart meters saved an average of €78 a year in energy and
water costs by fitting Showersmart. One family saved the most
and was €225 a year better off.
Cenergist estimates that households and hotels
in the UK could achieve average savings of around £45 a year and
the company says buyers will recover the cost of the regulator
within six months.
Managing Director, Mitesh Dhanak has worked in
the energy sector for the last 15 years and believes Showersmart
offers a great opportunity for the business to move into exciting
“We’ve been keen to diversify for some time
and a proven product like Showersmart will enable us to offer
landlords and property owners a practical and affordable
“Securing the right investment was key for
Cenergist and the mezzanine structure FW Capital came up with took
into account our revenue and other projections and provided us with
the flexibility we were looking for. We’re really excited
about Showersmart as we believe it will strengthen the business and
widen our reach.”
Established in 2012, Cenergist provides energy
consultancy services to businesses and organisations, helping them
reduce their carbon footprint and energy costs.
Previous projects include the design and
delivery of multi-million-pound communal heating systems for
high-profile clients such as Hackney Homes, Wythenshawe Community
Housing Group and Bupa.
The company has also recently won a contract
with Bernicia Homes to improve the energy efficiency of a 46-flat
tower block in Gosforth.
FW Capital Investment Executive, Keith
Charlton structured Cenergist’s mezzanine loan. Commenting on the
investment he said:
“Cenergist’s management team has already used
its extensive experience and expertise to establish an impressive
track record and enviable UK customer base. They understand
their industry very well and have a clear expansion strategy and
launching Showersmart is an important step for them.
“Increasing regulation and rising energy costs
are driving consumers and businesses to look for ways to reduce
their energy consumption and save costs. FW Capital’s backing
has provided this dynamic young company with the capital to fund
its expansion with a product that has significant potential and a
clear market niche.”
The European Union’s Energy Efficiency
Directive (2012) currently requires member states to achieve energy
savings of 20% by 2020.