An energy services business which helps home owners reduce their carbon emissions has secured a £200,000 loan from the Investment Fund for Northern Ireland.
Facilitated by Whiterock, the deal will enable Refresh NI to accelerate growth plans and maintain the strong momentum the company has enjoyed since launching in 2021.
In just three years, Refresh it has gone from start-up to now employing 35 people and with sales of around £4 million.
Based in Belfast, Refresh NI provides home owners and landlords with products and services to make their homes more energy efficient and to reduce their carbon footprint, including home insulation, gas boiler replacement and oil to gas conversion as well as solar PV and battery storage, air-source heat pumps, hybrid heat pumps, appliance servicing and installation of EV home chargers.
Refresh NI finance director Jack Peel said: “This additional investment will help us deliver our strategic growth plans and increase our capacity to deliver our range of energy efficiency services and help our customers reduce their carbon emissions.
“We plan to invest in all areas of our business, from our engineers to our sales and marketing teams through to our IT systems with the aim of making our customers’ journey to our services even more transparent and efficient.
“The process of applying to the fund and being approved was a smooth one and I would have no hesitation in recommending the Fund to other businesses who are on their own growth journey.”
Whiterock director Neil McCabe added: “We have been impressed by Refresh NI’s story so far and for the direction of travel they want to take their company.
“They are providing a great service for people wanting to make their homes as energy efficient as possible and in line with their budget. As the journey to net zero accelerates we expect increased demand for their services.”
British Business Bank senior investment manager Sue Barnard said: “Refresh NI are not only growing an excellent business they are supplying services which can help transform Northern Ireland’s carbon emissions.
“The residential sector is one of Northern Ireland’s largest contributors to greenhouse gas emissions, therefore, supporting businesses who can help homeowners reduce their carbon footprint is an excellent use of the fund.
“Supporting a transition to a net zero economy is one of the British Business Bank’s objectives, its good to see this investment completed and we look forward to seeing the business grow.”
