Max Wilkinson MP discovers how renewable technology is supporting constituents in Cheltenham

Leading UK clean heat developer Rendesco showcased their renewable heat technology to Max Wilkinson MP, during his visit to the Lewis Carroll Lodge retirement community in Cheltenham. The MP saw how Rendesco design, install and operate unique low-carbon ground source technology to provide homes and buildings with sustainable heat and hot water.

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The BVCA organised for the MP for Cheltenham to meet with the Rendesco team at the Lodge, a Churchill Living residence, to learn how the business operates low-carbon heat networks that supply clean heat and hot water to over 8,000 homes across the UK, generating more than 14GWh of sustainable heating annually. Rendesco's solutions offer a clean, reliable, and cost-effective alternative to gas grid infrastructure, contributing significantly to the UK's efforts to achieve net-zero emissions.

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The MP also had the opportunity to meet with the Lodge’s residents, staff and the Churchill Living team, to hear about their positive experience at the home, and their appreciation of Rendesco’s installations.

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Rendesco’s progress has been supported by the Clean Growth Fund (CGF) who provided investment and expertise derived from their deep knowledge of sustainable, environmentally friendly technology field to expand its operations and further develop its technology.

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BVCA research shows that private equity and venture capital backed businesses headquartered in Cheltenham support over 3900 jobs. The South West is an exciting centre for private capital investment, attracting £2.2bn into the region in 2024, with private capital contributing around £11bn to the regional economy and supporting over 165,000 regional jobs.

Commenting on the visit, Max Wilkinson, MP for Cheltenham said:

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“I’ve been making the case for this sort of renewable energy project for many years. It’s a logical and pragmatic step that we should be taking at every opportunity to shield our communities from increasing gas prices.”

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Commenting, Alastair Murray, CEO and Founder at Rendesco said:

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"It was great to show Max how low-carbon heat can be delivered seamlessly, even in settings like retirement living. The system delivers 100% renewable heating and hot water from ground source technology, with minimal space requirements, and results in lower, predictable bills for residents. This lodge is just one of more than 70 installations we have with Churchill Retirement Living, with our project portfolio quickly growing following Clean Growth Fund's investment in Rendesco last year.

“To scale solutions like this even further, we called for urgent action to rebalance levies between gas and electricity, lowering the 'spark gap', and for the government to promptly commit to delivering the Future Homes Standard. Policy certainty is critical to unlock investment in the industry and accelerate the UK’s transition to electrified heat."

Commenting, Spencer McCarthy, Chief Executive at Churchill Living said:

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“As people’s needs change in later life they invariably want the reassurance that comes with knowing their new home not only offers safe, reliable heating and hot water, but that it does so in a cost-effective and environmentally friendly way. Churchill has been an early adopter of new green technologies throughout our retirement communities and we have seen at first hand the benefits this has brought our customers.

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Commenting, BVCA Chief Executive Michael Moore said:

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“Rendesco is a prime example of a business that has harnessed the support of private capital to achieve financial success, deliver technological innovation and contribute to a positive environmental impact.

“Private capital is a partner for economic growth, supporting thousands of jobs in the South West and across the UK. Our industry backs the most innovative businesses supporting local economies in every nation and region.”

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ENDS

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Notes to Editors:

Images of the visit are available here

For further information, please contact:

BVCA Press Office Email: pressoffice@bvca.co.uk

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About the British Private Equity & Venture Capital Association 

The British Private Equity and Venture Capital Association (BVCA) is the industry body and public policy advocate for the private equity (PE) and venture capital (VC) (private capital) industry in the UK. With a membership of over 600 firms, they represent the vast majority of all UK-based private capital firms, as well as their professional advisers and a large base of UK and global investors.

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The private equity and venture capital industry has a vital role to play in driving national and regional growth. Currently over 13,000 companies, employing more than 2.5 million people, are backed by private equity and venture capital investment in the UK.

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About Rendesco

Rendesco is the UK’s leading independent clean heat developer and operator. It funds, designs, installs and operates unique low-carbon solutions, which use ground source technology to provide homes and buildings with sustainable heat and hot water. This is a complete network development package, where it provides a full suite of design capabilities and second-to-none installation quality.

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It manages hundreds of networks across the UK which provide heating and hot water for more than 8,000 homes, generating over 14GWh of sustainable heating and valuable operating performance data on ground source heat technology. Rendesco is supported by Copley Point Capital, Clean Growth Fund, Eurazeo, and Aviva Ventures through a funding round closed in 2024.

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About Clean Growth Fund

The Clean Growth Fund (CGF) is a £101 million climate venture capital fund established in 2020, dedicated to empowering UK-based clean technology entrepreneurs with the expertise and capital needed to address the climate crisis. CGF focuses on innovations that significantly reduce greenhouse gas emissions or enhance resource efficiency across sectors such as power, transport, industry, buildings, waste, and water. Typically, the fund makes initial investments ranging from £500,000 to £3 million during Seed or Series A stages.

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Led by Founder and Managing Partner Beverley Gower-Jones OBE, a recognized thought leader in early-stage cleantech investments and commercialization, the CGF team combines decades of experience in clean technology innovation and early-stage investing. Their collaborative approach involves working closely with portfolio companies, providing ongoing support through strategic partnerships, including collaboration with Carbon Limiting Technologies (CLT), one of the UK's most established early-stage incubators.

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CGF's diverse portfolio features some of the UK's most promising clean technology companies, including Above, Arda, Carbon Re, Clean Food Group, and FA Bio, among others. These companies are developing innovative solutions across various industries to combat climate change effectively. By fostering such innovations, CGF aims to create tomorrow's climate tech leaders, contributing significantly to the global effort against climate change.