Scalar North Capital is proud to celebrate the recent milestone achieved by Hometree, an early portfolio company. The innovative UK-based residential energy services provider has secured a debt facility from BlackRock. This pivotal development underpins Hometree’s strategy to lead the home decarbonisation revolution in the UK, facilitating key acquisitions and expanding its suite of renewable energy solutions.
A Strategic Evolution in Residential Energy
Since its founding in 2015, Hometree has rapidly evolved from a provider of home emergency services to a leading challenger in the renewable energy sector. This strategic transition reflects Hometree’s commitment to addressing growing homeowner demand for sustainable energy solutions, aligning with the UK’s ambition to achieve net-zero carbon emissions.
The recent financial support from BlackRock marks a significant step forward, enabling Hometree to acquire two prominent regional players: GeoWarmth Heat Pumps and The Little Green Energy Company. Together, these companies have a combined revenue of £15 million and have successfully installed approximately 12,500 renewable energy systems across the UK. These acquisitions bolster Hometree’s installation capacity, market presence, and ability to provide comprehensive energy services.
A Comprehensive Approach to Home Decarbonisation
By integrating GeoWarmth Heat Pumps and The Little Green Energy Company, Hometree enhances its ability to deliver an all-encompassing solution for homeowners. The expanded offering includes installation, financing, maintenance, and repair services, streamlining the transition to renewable energy for homeowners and supporting the UK’s decarbonisation goals.
Simon Phelan, CEO of Hometree, commented:"This funding is key to expanding our operations to meet the UK government’s target of 600,000 heat pump installations by 2028. These strategic acquisitions will help address the national need for 30,000 skilled installers, positioning Hometree as a leading choice for homeowners committed to reducing their environmental impact."
Driving the UK’s Decarbonisation Efforts
The acquisitions and funding underscore Hometree’s commitment to supporting the UK’s transition to a more energy-efficient future. By expanding its capabilities and reach, Hometree is well-positioned to address the critical challenges in renewable energy adoption, including the need for skilled installers and streamlined services for homeowners.
Scalar North Capital remains dedicated to supporting Hometree’s mission to drive meaningful change in the energy sector. We are excited to see how Hometree continues to leverage this opportunity to expand its impact and deliver innovative, sustainable energy solutions across the UK.
For more information, please visit the official announcement on the Hometree blog.
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