Major new investment for Fort William biomass company
Tuesday, Jul 04, 2017
Highland based biomass heating specialist, HWEnergy, has announced that Aggregated Micro Power Holdings plc (AMP) (LON: AMPH) has become their majority shareholder following a significant investment into the company.

The partnership means that HWEnergy will be able to grow the breadth and depth of their offering to new customers, as well as increase their geographical spread, while remain as an independent and stand-alone business.  Operations in Scotland will continue as usual but the new investment will enable HWEnergy to offer finance for larger biomass installations via new Energy Services Company (ESCo) finance solutions in partnership with AMP.

Established in 2003, HWEnergy has a staff of 45 and has installed more than 300 commercial-sized biomass installations to date from Shetland to London .  The company is headquartered in Fort William, with an additional office in Bellshill, Glasgow, and services and maintains more than 350 sites across the UK.

Aggregated Micro Power Holdings is a distributed energy company specialising in the sale of wood fuels through their Forest Fuels business, and in the financing, development and installation of energy projects including biomass boiler ESCOs (Energy Supply Contracts) and standby power generation and battery storage facilities. Forest Fuels are one of the leading wood fuels businesses in England and Wales, with annual sales of over 100,000 tonnes of wood fuel to 2,300 customers from more than 40 depots.

HWEnergy is entering into the partnership with Forest Fuels whereby together they will grow a biomass service and heat supply business in England and Wales. HWEnergy and Forest Fuels currently have about 300 service customers in England and Wales. Going forward, the service function of the two companies will be  managed from HWEnergy’s support desk at their Fort William HQ.

Bruno Berardelli, Managing Director of HWEnergy said: "We have entered into this relationship with AMP as we believe that this provides an extremely exciting range of opportunities for our clients, our company and all of our stakeholders. AMP’s vision for the development of decentralised energy provision is one which we believe will benefit the economy of the country as a whole, help reduce carbon emissions from energy production and provide numerous benefits to our clients. Forest Fuels have long standing credentials in their commitment to growing a sustainable and high-quality business in the biomass industry, with a focus on local delivery and customer service. They are the ideal partner for us to work with in England and Wales."

Richard Burrell, Chief Executive Officer of AMP said: "We are very excited to be working with HWEnergy. Their long-standing experience and reputation in the biomass sector will lead to immediate synergies with our own businesses. Our partnership will mean that HWEnergy will be able to offer new ESCo and Commercial boiler buy back products to clients in Scotland, and that they will be able to work with Forest Fuels to expand our Service and Heat business in England and Wales. We very much look forward to working with the HWEnergy team in the future."

For more information, please visit: http://www.hwenergy.co.uk/
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