We're helping UK homes become energy efficient with our latest investment via Ignite, the UK's first corporate impact investment fund focused on energy and backed by Centrica.
Ignite is investing £100,000 alongside our people’s expertise in IRT Surveys, a social enterprise with a pioneering tool that quantifies energy loss and provides bespoke advice on refurbishment options. IRT will therefore help raise the standard of UK homes which are some of the least energy efficient in Europe, enabling a reduction in energy costs and carbon emissions.
IRT’s Dynamic Retrofit Energy asset management (DREam) tool does this by calculating potential energy efficiency savings using a Carbon Dashboard energy simulation, which is much quicker and more cost-effective than traditional thermal imaging. At the same time, the tool interacts with real-time energy prices alongside market and legislation changes to propose the best refurbishment options which also detail potential savings, funding sources and project providers.
With our investment, we will help grow IRT’s energy efficiency and marketing capabilities while supporting the DREam pilot with North Lanarkshire Council.
While the tool will eventually be available to residential and commercial property owners in the UK, the biggest difference DREam could make is with Local Authority and Housing Associations (LAHAs). With LAHA budgets under pressure from ongoing austerity measures, DREam could not only generate financial savings as a result of quicker, more efficient evaluations of housing stock, but they could also help ensure properties most in need are targeted with improvements through the tool.
Stewart Little, CEO of IRT Surveys said, “I have raised money from friends, venture capitalists, business angels and been through grant funding in my time as CEO of IRT and I can honestly say that if you are looking for a friendly, professional and diligent partner – then you really must consider Ignite. The team have taken the time to get to know us properly and invested their time with their money.”
Sam Salisbury, Principal of Ignite commented: “Everyone has the right to a warm and energy efficient home. IRT provides an innovative and cost-effective way to help the UK achieve this and we look forward to supporting their growth in the future.”
IRT forms part of Ignite’s commitment to invest £10 million over 10 years in social enterprises with innovative energy ideas.