A Mawdesley-based business specialising in renewable energy solutions for homes and businesses has received a £140,000 loan from Lancashire Rosebud Finance™.
The loan will help the company to diversify into reducing vehicle emissions. It will also create seven new jobs in the region by supporting a project aimed at making vehicle emissions negligible by 2050.
Clean Power Solutions Limited is a Microgeneration Certification Scheme-approved business that operates in a range of areas across the renewables sector, including solar panels, small wind turbines, intelligent power supply, energy storage systems and educational installations for schools and colleges.
Through continuous research and development, the company has identified a commercial opportunity within the market place. Clean Power Solutions has partnered with Innovate UK, ULEMCo, and Revolve Technologies to develop a process that converts excess energy to hydrogen, which can then be used to power vehicles and provide heating.
The project, known as the SmartPower Hydrogen system, is currently piloting in the North West, and has received significant interest from the forestry, logistics and recycling sectors. Using hydrogen energy as a means of fuel is a major part of the UK government’s plans to cut vehicle emissions to zero in the next 40 years.
Michael Hough, Co-Founder of Clean Power Solutions, said:
“We are pleased to receive financial support from Rosebud™ and are excited to continue working on the SmartPower Hydrogen system. This technology will be of vital importance in the fight against vehicle pollution, particularly in heavily suburbanised areas, where pollution has already been shown to have serious adverse effects on health.”
Peter Rooney, Investment Manager at Enterprise Ventures, said:
“For the last seven years, Clean Power Solutions Limited has gone from strength to strength. Now one of the UK’s leading suppliers of domestic and non-domestic renewable energy technology, Clean Power Solutions has the long term potential to create more jobs in the region, whilst playing a vital role in combatting climate change.”
Rosebud™ is a finance package supporting Lancashire firms to grow and expand their business. It is managed by Enterprise Ventures, on behalf of Lancashire County Developments Ltd (LCDL), the county council’s economic development company.
County Councillor Niki Penney, Chair of LCDL, said:
“There’s a lot of growth potential in the renewable energy sector, which is why we’re keen to support Lancashire-based companies in this innovative field of work.
“Clean Power has identified a commercial opportunity which would make use of its existing technologies in a new application, and it is looking to deliver this new system with support from Innovate UK and Rosebud™.
“As well as creating new jobs and growth, Rosebud’s™ investment will also reduce pollution, which will benefit everyone.
“We’re pleased to support the team at Clean Power Solutions Limited and encourage other renewable energy companies to approach Rosebud™ to support their growth.”