YFM GROUP INVEST £200,000 IN THE ALTERNATIVE ENERGY COMPANY
22nd June 07
The Yorkshire and Humber Equity Fund, managed by YFM Group, has invested £200,000 expansion capital in energy equipment supplier and installer, The Alternative Energy Company Limited alongside a £50,000 investment from a business angel Chris Redfearn.
Based in Ripon, The Alternative Energy Company supply and install renewable power generation and conversion equipment ranging from wind turbines to energy inverters converting energy stored in low voltage batteries to mains voltage. Generation equipment can either be standalone or national grid connected allowing owners to sell surplus electricity.
David Elsy Managing Director of The Alternative Energy Company commented that the company would now be able to develop in a much more dynamic way with the funds obtained from YFM Group and Chris Redfearn.
David Livesley, Investment Manager at YFM Group commented "TAEC is addressing a growth market for professional supply and installation of renewable electrical generation equipment. We were impressed by the commitment and professionalism of the management team intent on supplying and installing equipment offering meaningful service lifetimes and properly calculated pay back profiles."
The Alternative Energy Company sources its proprietary range of wind generation equipment from Chinese manufacturers and distinguishes its self from competitors by offering a full service offering ranging from assistance in planning applications to installation and commissioning. The company has a range of “professional” wind turbines ranging from an 800 Watt Off Grid unit suitable for use with remote monitoring or signalling equipment to 20 KWatt three phase models capable of powering small industrial units. A range of solar panels has recently been launched for charging 12 volt batteries for caravans, Cars or remote telemetry sites.
The company plans to increase its product range to include micro-water generation, ground and air source heat pumps and other technologies.
Recent legislation changes have made gaining planning permission for installation of renewable generation equipment simpler, but specification and selection of the correct equipment remains complex and requires professional support. TAEC has already won orders from as far south as Devon from customers recognising the need for professional support in deciding on the correct equipment.