Legal & General Capital (LGC) has invested £12.5 million across three companies with a focus on decarbonising residential buildings.
The three companies are:
- CEC – Cambridge Electric Cement is made in a recycling loop that eliminates the emissions of cement production, saves raw materials, and reduces the emissions associated with steelmaking. With production of traditional cement responsible for 7% of global greenhouse gas emissions, this critical technology has the potential to significantly reduce carbon emissions in the construction sector.
- Hometree – a residential services challenger brand, aiming to help homeowners install green energy hardware into their homes and providing them with repair and maintenance services for all their home energy hardware. Through its recent acquisition of BeWarm, Hometree will help people to better afford making their homes more sustainable by offering green loans, leases, and mortgages.
- Sunroof – a Sweden-based provider of building integrated PV roofs.
LGC has also increased its existing investment in Sero Technologies. LGC’s long-term investment support aims to ensure both the successful scale-up of innovative new companies and technologies, and lasting benefits to households as the UK and Europe transition to net-zero.
John Bromley, Managing Director – Clean Energy, Legal & General Capital, said:
Housing is a major contributor to carbon emissions and requires some of the most radical and immediate overhauls of any industry. The UK has some of the poorest-built housing stock in Europe when it comes to energy efficiency, but the scale of this challenge also provides a huge opportunity for investors and innovators to develop and scale up leading tech to decarbonise UK homes. This will generate not just environmental but also economic benefits by stimulating jobs and growth in the green economy across the UK, not just in the industrial heartlands.
In the face of that challenge, I’m delighted to welcome three new Clean Energy partners to Legal & General Capital and increase our investment in Sero—all of which will accelerate the development and deployment of solutions that will help reduce carbon emissions at speed and at scale. We have partnered with these businesses in recognition of their unique and innovative positions within their respective markets and their potential for growth. We look forward to working with our new partners as they accelerate their growth in order to address the climate crisis.
