August 23 2014 Latest news:
Ben Woods, Business writer
Wednesday, April 2, 2014
A Great Yarmouth-based renewable energy business has opened a new showroom in Norwich creating 12 new jobs.
Mr Renewables has ploughed more than £70,000 into its “flagship” site at Marriott Close after mounting significant growth last year.
The business – whose showroom was opened yesterday by Greg Barker, minister for energy and climate change and North Norwich MP Chloe Smith – has seen its turnover rise from £1.5m in 2012 to £3.2m in 2013, with revenues set to grow to £5m by the end of this year.
The majority of the funding for the showroom has come from within the business, while £12,000 was sourced through the New Anglia Local Enterprise Partnership’s Grants for Growth fund, which supports small-medium-sized firms.
Ian Gilfedder, sales and marketing director who set up the firm with co-director Andy Laws, said the company had driven down rental costs on the new property by installing a biomass boiler and solar panels, which guarantees the firm a revenue stream from the government.
“The growth has been substantial and we hope to emulate that in our Norwich branch,” he said. “We certainly expect to gain further momentum through the initiatives like the Green Deal, which we are now offering as well.
“The majority of the growth has come from solar panels and renewable heating because they are the schemes that offer the most generous returns for customers.
“The majority of Norfolk is on oil, which has had price rises of more than 50pc over the last four years. This presents lots of opportunities for people to switch to renewable energy.
“The investment we have put into the Norwich branch has been substantial, but with the biomass boiler we have installed and the solar panels we have put on the roof, we are feeding electricity into the national grid. This means we will get about £10,000 from the government that will help pay our rent.”
The company, which offers biomass heating, heat pump and solar panel installations, was founded in Great Yarmouth in 2011. Since then, it has established a branch in Colchester and Norwich, increasing workforce to 50 staff.
The firm expects to employee more staff this year and has set its sights on expanding into Cambridge in the future.
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