Legal & General Capital (LGC) has invested £12.5 million across three companies – Cambridge Electric Cement (CEC), Hometree, and SunRoof – and increased its existing investment in Sero Technologies as part of its commitment to decarbonise the residential sector. These partnerships demonstrate the breadth of LGC’s investments into decarbonising residential real estate, from reducing construction emissions through to offering the technology and support needed to retrofit existing housing stock.
LGC invests in energy transition, supporting the scale-up of innovative businesses that deliver solutions to reduce carbon emissions throughout the economy. Over the past six years, its investments have focused on decarbonising power, transportation, and the built environment.
Over half (59%) of UK households view more investment in energy efficient homes as an attractive option to address the cost-of-living crisis. LGC’s long-term investment supports aims to ensure both the successful scale-up of innovative new companies and technologies, and lasting benefits to households as the UK and Europe navigate a new energy landscape and the transition to net zero.
John Bromley, Managing Director – Clean Energy at Legal & General Capital, says, “Housing is a major contributor to carbon emissions and requires some of the most radical and immediate overhauls of any industry. The UK has some of the poorest-built housing stock in Europe when it comes to energy efficiency, but the scale of this challenge also provides a huge opportunity for investors and innovators to develop and scale up leading tech to decarbonise UK homes. This will generate not just environmental but also economic benefits by stimulating jobs and growth in the green economy across the UK, not just in the industrial heartlands.
“In the face of that challenge, I’m delighted to welcome three new clean energy partners to Legal & General Capital and increase our investment in Sero – all of which will accelerate the development and deployment of solutions that will help reduce carbon emissions at speed and at scale. We have partnered with these businesses in recognition of their unique and innovative positions within their respective markets and their potential for growth. We look forward to working with our new partners as they accelerate their growth in order to address the climate crisis.”
LGC’s investments into CEC, Hometree, and SunRoof are the latest in its commitment to investing in businesses, technologies, and innovators that support the transition to net zero – and a natural evolution for its clean energy portfolio, whose partners include The Kensa Group, Oxford PV and Rovco & Vaarst.
LGC also joined other leading cleantech accelerators and investors in the UK to form a coalition to help inform and shape a new initiative, called Cleantech for UK. This initiative aims to pave the way for a new generation of global cleantech champions in the UK by establishing a dialogue between the UK’s policy-making community and those living the reality of creating, incubating, investing in and scaling cleantech companies.