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HWEnergy join AMP Plc

HWEnergy join AMP Plc

11 December 2017

Bruno Berardelli, who remains MD of HWEnergy, outlines the rationale for joining with AMP:

HWE director and van

In July of 2017 HWEnergy received investment from Aggregated Micro Power Plc (AMP), an AIM listed company.  HWEnergy join Forest Fuels - the leading supplier of Biomass Pellets and Premium Quality Wood Chip in England and Wales - as the biomass delivery arms of the AMP business.

HWEnergy continues to operate as a standalone business focusing primarily on Scotland but also on heat, service and maintenance contracts throughout the UK under a partnership with Forest Fuels. All Forest Fuels' existing service and maintenance contracts in England and Wales will be delivered by HWEnergy, under the Forest Fuels brand which is trusted and well established.

The long standing team at HWEnergy remain in place and Bruno Berardelli, who remains MD of HWEnergy outlines, the rationale for joining with AMP:

"When we entered into this relationship with AMP we believed that it would provide 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 and help reduce carbon emissions from energy production."

"Six months after having begun working with AMP the benefits are proving even more tangible that we initially anticipated.  We have been able to increase the number of people in our team despite a backdrop that has recently created difficulty for some other well-known biomass businesses in Scotland and England.   The biomass heating sector is entering a new phase and the reform of the RHI means the focus is shifting to larger scale projects which require significant investment to deliver. The investment from AMP means that we are able to finance new industrial scale biomass projects on an ESCO basis.  AMP have raised an additional £30m of new biomass project finance to deploy over the coming months so we are actively looking for projects to finance."

"As those of us who have been involved with the sector for some time know, another key area is the optimising of existing installations to ensure that they are running properly.  Having finance available via AMP allows us to "buyback" existing biomass boilers releasing capital for the owners of the systems.  It also means we can take steps to ensure the systems are performing properly.  HWEnergy and Forest Fuels are managing the fleet of 90 boilers that AMP currently own across the UK and we see this being a good option for anyone in Scotland who either wants to release cash or has an operational issue with their biomass system."

"For fuel suppliers or other installation companies in Scotland we are able to commit to ensuring that they have a role to play in any new projects that they partner with us on developing and similarly for any boiler buyback projects - people can remain as involved as they want to be.  In terms of the day to day activities in Scotland we still have the same strong partnerships with our fuel supply partners right across the country and remain totally committed to ensuring that biomass heat delivers the local economic benefits that we have always believed in.  Investment from AMP has also allowed us to beef up our back office support for our service desk and recruit more engineers on the ground - all these steps are fantastically positive."

"My view is that the biomass sector in Scotland has made massive progress over the past 10 years and that we are now at the point where the sector is maturing.  There are benefits to us all from working together to make sure that we can deliver what current and future biomass customers are going to require.  The fact that we can now have access to the funding that can help us to deliver these services to our clients can only be a good thing."

Article provided by HWEnergy