Sustainable energy startup Heat Geek has raised £3.7 million in seed funding.
The London firm says the funding will power its mission to decarbonise homes via heat pump technology on a national scale.
Nearly half the gas consumed in the UK each year goes on heating. Electric heat pumps use electricity rather than burning gas or oil. They are also highly efficient and consume around a fifth of the energy of a gas boiler for the same heat output.
Just 25,000 heat pumps were fitted in private homes last year, but with a government ambition of 250,000 a year by 2025 the issue of insufficient qualified installers needs to be addressed.
Currently, there are 120,000 qualified gas engineers in the UK, yet only 3,000 qualified heat pump installers and experts calculate the country will need 27,000 by 2028 to hit current government targets.
Founded by Adam Chapman, Aadil Qureshi (ex Apple and IBM) and Matthew Gunn (ex JP Morgan), Heat Geek’s new digital platform provides heating engineers with a ‘business-in-a-box’, empowering them with training, technology and a pipeline of paying customers that have been pre-qualified using Heat Geek’s proprietary property intelligence algorithms.
A key factor in Heat Geek’s proposition and success to date is the creation and growth of the community of installers, which has 80,000 social media subscribers and 1,000 trained installers across the UK.
Co-founder and CEO Qureshi said: “At the heart of our business is a shared obsession with empowering everyone in the UK to upgrade their home and save money every month. But one of the biggest issues facing mass uptake of heat pumps is a lack of skilled installers.
“Our solution is simple – train thousands of existing heating engineers and give them the skills, knowledge and tools to unlock the support for thousands of homeowners wanting to decarbonise their homes and save money on their energy bills.”
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The Heat Geek community is deeply involved with the development of the digital platform, ensuring the technology is built in absolute consideration of their needs as engineers and business owners.
This co-development culminated in bringing on-board 15 of the community as shareholders of the company, ensuring the voice of the most important stakeholder is continuously integrated as the organisation scales.
Chapman explained: “Heat Geek is built to support engineers running their own businesses at the heart of communities across the country. Our focus is empowering local heating engineers that have been keeping homeowners warm for decades.
“These engineers are best placed to upskill and guide their customers on the journey to adopt Heat Pumps.”
Heat Geek has already established a number of significant partnerships; a partnership with OVO Energy was launched in September and Heat Geek has now also partnered with Resi, a digital-first renovation and extension service, to provide their homeowners with heat pumps as they renovate their homes.
CEO of Resi, Alexandra Depledge, added: “At Resi, we are on a mission to revolutionise home improvement. An integral part of this is our ambition to provide free retrofit advice to all Resi customers.
“That is why we are excited to work with Heat Geek to deliver more zero-carbon renovations, helping homeowners to not only unlock more value in their property, but do their bit for the climate whilst saving money on energy bills, and living more comfortably in their homes.”