Bridges Ventures provides funding for Ardenham Energy expansion
London, 12 September 2011: Bridges Ventures, the sustainable growth investor and Ardenham Energy Ltd, the developer and installer of renewable energy projects in homes, farms and businesses, have finalised terms on an initial £2m investment designed to fund the company’s expansion across the UK.
Ardenham Energy specialises in renewable energy installations, focusing on Solar Photovoltaic (PV) integration and also the installation of heat pumps, wind turbines and solar thermal systems in residential, public sector, agricultural and commercial markets in the UK.
Founded in 2007, the company has installed nearly 1,000 individual technology installations, making it one of the most established and trusted UK businesses of its kind. Ardenham Energy was the first installer in the UK to be issued with a Micro-generation Certification Scheme Certificate in 2007, and has been successfully appraised and audited every year since. The company has a culture of innovation and amongst its innovative solutions has developed BarnSure™, a bespoke solution for Solar PV on agricultural buildings, one of only a couple of which meet the stringent requirements of the agricultural insurance industry.
This investment has been made through the Bridges Venture Funds and is their fifth investment within the environmental space, leading the way for further investments in businesses delivering renewable energy solutions.
Commenting on the announcement, Harry Shepherd-Cross, Director of Ardenham Energy, said:
“This is a landmark moment for Ardenham Energy. Our ability to secure substantial financial backing from such respected finance providers at a time when capital is so constrained is testament to the strength of our business model. With the backing of Bridges Ventures, Ardenham Energy can now expand its provision and installation of renewable energy projects beyond the South East to a much wider market and use the added financial strength to generate additional comfort over the business’s ability to deliver large scale and long term contracts across all sectors. I would personally like to thank our loyal and hardworking staff and other key stakeholders for helping us to reach this milestone.”
Tom Fourcade, Investment Director at Bridges Ventures, said:
“The move towards a low carbon economy will see an increasing need for organisations that can help individuals and businesses produce renewable energy.
Our conviction in Ardenham Energy is based on the team’s extensive experience in this field – over 45 years collective experience in power, engineering and the construction industry. They have consistently demonstrated their ability to deliver, achieving a position of trust within this fast-growing sector. The business is closely aligned with Bridges Ventures’ core principle to invest in companies that achieve positive social and environmental impact as well as providing strong and sustainable financial returns for investors.”
Bridges Ventures is a sustainable growth investor whose commercial expertise is used to deliver both financial returns and social and environmental benefits. The Bridges Venture Funds invest in growth businesses across the four impact themes of Underserved Areas, Education & Skills, Environment and Health & Well-being.
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Notes to Editors
About Bridges Ventures
Bridges Ventures is a sustainable growth investor established in 2002 with a mission to use its commercial expertise to achieve focused social or environmental benefit, as well as attractive returns for investors. Bridges Ventures has raised five funds to date which total £187m: Venture Funds I & II, the Bridges Sustainable Property Fund, the Healthcare Property Partnership and the Bridges Social Entrepreneurs Fund.
The Bridges Venture Funds invest in growth businesses across the four impact themes of Underserved Areas, Education & Skills, Environment and Health & Well-being. The Funds typically invest up to £10m at a time in ambitious, entrepreneurial businesses including early stage, growth capital and buyouts / buy ins.
Since 2002, Bridges Venture Funds have made equity investments totalling over £70m in 34 businesses.
For more information please go to www.bridgesventures.com
About Ardenham Energy
Ardenham Energy Ltd was founded by Harry Shepherd Cross and James Hoare in February 2007, and provides turnkey renewable energy solutions to households, landowners, and business and public sector clients in the UK. The company holds certification to assist clients with project requirements for the current Feed in Tariff and forthcoming RHI based projects which start in 2012. Since establishing, the company has gained a quality reputation for project delivery and is one of the leading providers of a broad spectrum of renewable technologies.
The company was advised by Argo St George (www.argo-sg.com). Argo St George LLP is a corporate finance adviser and growth development consultancy specialising in working with small and medium sized enterprises. It leverages its in-house venture capital experience with its business development expertise to work with companies to structure for growth, matching their needs with intelligent capital as required. Argo St George has advised on and completed five transactions in 2011 to date.
For more information please go to www.ardenhamenergy.co.uk
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