Thanks to an investment boost from Maven Capital Partners, BasePower is able to continue its support for British manufacturing as it transitions to sustainable energy.
An £800,000 loan from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners, has been granted to Hams Hall Sustainable Energy Ltd (“HHSE”), part of a group of companies that have been set up by BasePower.
The funding will be used to support the delivery of new BasePower contracts, including the purchase of a CHP engine for a leading Tier 1 supplier to the global automotive industry based in the Midlands. CHP technology captures the heat formed during power generation. It is then put to productive use during the manufacturing process, resulting in reduced energy costs and carbon emissions.
Dan Poulson, Founding Director said: `
“It is great to receive the backing and support of MEIF and Maven. The funding will enable us to provide our key clients with substantial savings on energy that would otherwise have been supplied from the electrical and gas grids and helps support the UK’s transition to a low-carbon economy.”
Basepower is led by a strong management team which has previously developed more than 30 energy generating schemes for a range of clients in the public and private sectors.
