Shrinking the UK’s carbon footprint has helped drive up profits for this Reading group, which specialises in identifying and commercialising the latest green technology from Britain and overseas.
Anesco installs and maintains renewable energy equipment such as solar panels and heat pumps for homeowners, local authorities and businesses. Its partnerships range from Oxford-based Oxis Energy — which claims its lithium-sulfur battery could outperform the lithium-ion versions used by firms such as Tesla — to the RSPB, which is helping it nurture biodiversity at its solar sites.
The company was spun out of Scottish & Southern Energy in 2010 by co-founders Adrian Pike, 48, and Tim Payne, 53. They were helped by £3m from SSE Ventures, which initially held a 40% stake, and a further £3m from Zouk Capital, which in 2013 sold its stake to Scottish Equity Partners and Hermes Private Equity. In November 2014, CBPE Capital acquired these stakes for an undisclosed amount.
Operating profits have increased 179.1% a year, on average, over the last three years, reaching £20.7m in 2015, on sales of £160.2m. Growth has been helped by government renewable energy subsidies but, as these are cut, Anesco has been quick to diversify into other areas, from street lighting to biomass boilers.
Anesco says it was also the first British company to offer the installation of batteries charged by solar power, in 2014, storing energy that can be released back to the National Grid at times of peak demand.
In an increasingly competitive cleantech industry, this pioneering approach has helped the company stride ahead. “We’re helping customers to transform their operations, save money, and all while reducing the country’s carbon footprint,” says Pike. As the UK tries to hit stringent targets on reducing carbon dioxide emissions, the company continues to thrive, with profits expected to rise further on sales of £210m in the year to March 2016.
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