Legal & General Capital (LGC) has invested a further £8 million in heat pump manufacturer the Kensa Group, to allow it to continue to scale up its ground source heat pump development. It follows LGC acquiring a 36% stake in the Kensa Group in 2020, bringing its total investment in the company to £15.7 million over two years. Over the past two years, Kensa has increased its number of employees from 70 to 180, while its revenue doubled, from £15.5 million to £31.5 million. Its manufacturing facility has also increased production substantially, growing by 150% during the pandemic. According to the company, this has broken the record for the number of ground source heat pumps made in the UK, and it is working to increase the capacity twofold by 2023.
Current 20th June 2022 read more »