Newcastle-based renewable energy business, CrowdHouse Energy (CHE), has secured a ‘transformative’ investment from NPIF II – NEL Debt Finance, managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II (NPIF II). This partnership marks a significant milestone for CHE, enabling the company to accelerate its growth and impact within the renewable energy sector.
CHE specialises in commercial solar solutions, offering rooftop photovoltaic (PV) systems and its distinctive Helios Volt PV Parking Canopy, incorporating Supernova™️ PURE Bifacial PV, plug-and-play modules. The company provides comprehensive renewable energy generation solutions encompassing in-house design, consultancy, installation, and ongoing maintenance.
The investment will allow CHE to capitalise on the growing demand for green energy by growing its team and strengthening operations.
It has also enabled the business to bring in an Olympus CNC machine and Elumatec DG79 double mitre saw to fully equip its Scotswood Road manufacturing facility – advancements which are instrumental in enhancing CHE’s production capabilities and supporting the company’s commitment to sustainability and innovation.
Bringing more fabrication in-house has reduced reliance on external suppliers, improved efficiency, shortened lead times, and ensured consistent, high-quality Helios Volt PV Parking Canopies, incorporating Supernova™️ PURE Bifacial PV, plug-and-play modules. Ultimately, it positions the business to deliver tailored energy solutions at scale and support clients on their journey to net zero, whilst positively contributing to the North East’s renewable energy sector.
CHE CEO, Richard Blackwell, says, “NEL’s investment has been pivotal for CrowdHouse Energy. Their support has been outstanding, providing clear guidance, structure, and an outside perspective that has helped us make better decisions as we scale.
“Beyond funding, NEL has strengthened our confidence to invest in key areas, improve operations, and continue delivering high-quality projects, putting us in a strong position for sustainable growth.”
Jane Siddle, NEL Investment Executive, adds, “Our investment is a clear endorsement of CHE’s vision and their steadfast dedication to advancing exceptional renewable energy projects. CHE plays an instrumental role in driving the North East towards a sustainable, net zero future.
“We are genuinely delighted to support CHE as they further develop their manufacturing abilities and continue to introduce cutting-edge solutions in commercial solar technology.”
Operated by British Business Bank, the £660m Northern Powerhouse Investment Fund II covers the entire North and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Sarah Newbould, Senior Investment Manager at the British Business Bank said: “. Through the Northern Powerhouse Investment Fund II, we are proud to support businesses like CrowdHouse Energy that are aligned with the Government’s Industrial Strategy, creating highly-skilled jobs, driving regional economic growth and playing a vital role in the UK’s transition to a net zero economy.”
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
NEL Fund Managers are also managing NPIF II – NEL Smaller Loans which offers investments from £25,000 to £100,000 to new and growing businesses.
For more information about NEL, please visit www.nel.co.uk or contact the investment team on 0345 369 7007.