Cenergist secures six-figure NPIF - FW Capital investment to expand business
Tees Valley-based energy and water efficiency firm Cenergist
has secured a £235,000 loan from NPIF – FW Capital Debt Finance,
managed by FW Capital and part of the Northern Powerhouse
Investment Fund (NPIF).
Cenergist is a specialist energy and water
efficiency company working across the UK, Europe, India and Middle
East to help public and private clients achieve energy, water and
With this new line of funding, the business is
now aiming to expand its remit further into turnkey solutions of
lighting upgrades to low-cost LED for commercial entities. As well
as the development of a new revenue stream, it will allow the
Billingham-based company to create five new jobs.
In May 2017, NPIF provided growth capital of
£515k to Cenergist to help develop its Energy Advisory revenue
stream through working with energy companies to achieve their
Affordable Warmth targets.
FW Capital has long been a supporter of
Cenergist. In July 2015, FW Capital’s North East Growth Plus Fund
provided a £350k mezzanine loan for working capital for Cenergist
to develop and grow its Energy Solutions revenue stream through
sales of a high-performance water flow regulator.
James Waring, finance director at
Cenergist, said: “Energy and water efficiency are key
priorities for many organisations, both from a cost and
environmental perspective. This presents opportunities for
companies such as ours to assist in achieving these efficiencies.
Through our strong partnership with FW Capital, we were able to
raise finance to pursue a key area of growth in energy efficiency,
and we thank them for their continued support as the business
Keith Charlton, senior investment
executive at FW Capital, said: “Cenergist has a strong
track record in the energy advisory services industry and has good
relationships with a number commercial landlords and managers of
commercial properties. It has also demonstrated the viability and
strong prospects for LED upgrades through a successful and
profitable pilot scheme.
“This follow-on investment demonstrates our
commitment to supporting businesses like Cenergist and developing
long-term working relationships. We are delighted to have been
Cenergist’s investment partner again and wish them every success
with their new venture.”
Grant Peggie, Director at British
Business Bank, said: “Since NPIF backed the company in May
last year, it has progressed at an impressive rate and this new
round of funding puts the business in an even stronger position to
capitalise on new opportunities in the market and create additional
jobs in Tees Valley.”
Operating from the British Business Bank’s
Sheffield head office, the Northern Powerhouse Investment Fund
provides a mix of debt and equity funding (£25,000 to £2m).
It works alongside ten Local Enterprise Partnerships (LEPs), the
combined authorities and Growth Hubs, as well as local accountants,
fund managers and banks, to support Northern-based SMEs at all
stages of their development.
The Northern Powerhouse
Investment Fund project is supported financially by the European
Union using funding from the European Regional Development Fund
(ERDF) as part of the European Structural and Investment Funds
Growth Programme 2014-2020 and the European Investment Bank.
For more information about
Northern Powerhouse Investment Fund, please visit http://www.npif.co.uk/.