Stockport-based energy optimisation business, Powerhub, has secured a £500,000 growth loan from investor, River Capital through its North West Business Growth Loan Fund.
The funding will support Powerhub’s continued growth trajectory as the business looks to establish itself as a leading provider of end-to-end energy reduction solutions for the commercial sector. Capital will be directed towards recruitment, working capital, marketing and the development of proprietary technology.
Alongside the loan, Powerhub has also been approved for a further £250,000 to be made available, highlighting River Capital’s confidence in the business’ potential.
Founded in 2021 by Managing Director James Beck, Powerhub offers a four-pillar energy reduction service encompassing Voltage Optimisation, KBR Energy Saving, IoT Energy Management Systems, and Solar PV. Since launch, the business has delivered 160% revenue growth year-on-year, and is forecast to double revenue in FY20206.
The new investment is set to create a further 25 new jobs in Stockport across sales, marketing and operations, adding to its current headcount of 29. A further 50 new jobs are also expected to be supported in Powerhub’s contractor network.
On the investment, James Beck, Managing Director, Powerhub Solutions said:
“The funding from River Capital gives us the headroom to scale our team, accelerate our pipeline, and deepen our technology offering without compromising on the quality our clients expect. This is a pivotal moment for Powerhub and we’re delighted to have River Capital as a partner on that journey.”
Chris Carter, Investment Manager, River Capital, said:
“Powerhub is a high-growth, market-leading company with a credible and impressive management team, a proven model, and a clear path forward. James and the team have built something genuinely outstanding in a short space of time, and the governance and commercial discipline they’ve added gives us real confidence in the journey ahead.
“The fact that we’ve approved a further £250,000 in principle reflects that confidence and our commitment to backing Powerhub for the long term.”
Mike Dinnell, Structured Debt Manager at Leonard Curtis, said:
“We’re pleased to have been able to support this transaction, allowing Powerhub to secure the funding needed for its next phase of growth.
“The business clearly stands out for its ability to deliver measurable energy savings to businesses of all sizes. The value add is tangible from day one, by utilising its in-house stack of products. The demand for Powerhub’s products and services is becoming increasingly important for businesses of all sizes at a time where cost control and meeting sustainability targets are a priority. The collaboration between all parties ensured a smooth and efficient process, and we look forward to seeing Powerhub continue to build on its momentum.”
The investment comes at a time of growing demand for energy efficiency solutions across the UK commercial sector. With annual commercial and industrial electricity spend exceeding £30 billion, and businesses facing tightening net-zero obligations and ESG reporting requirements, energy reduction has become a board-level priority.
Photo: (L-R) Chris Carter, River Capital; James Beck, Powerhub; Tim Marlow, Powerhub NED; and Mike Dinnell, Leonard Curtis.
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