A huge factory manufacturing ground source heat pumps has officially opened in Cornwall. The production facility and offices at Mount Wellington Mine in Truro is owned and operated by the Kensa Group.
The site was opened by Sir Nigel Wilson, chief executive of Legal & General (L&G), which is a stakeholder in Kensa - a group of businesses involved in the manufacture and installation of heat pumps. Earlier this year, Legal & General Capital (LGC) - the alternative asset platform of the L&G Group - made an £8m investment into the business, bringing total investment in Kensa by L&G to £15.7m over two years.
According to the Cornish-based firm, its factory in Truro has the capacity to manufacture 30,000 heat pumps every year. The company also uses its own products to provide the plant and offices with underfloor heating, hot water and cooling by exchanging heat with water from a flooded mine shaft on the historic site.
Sir Nigel said: "I’m delighted that Legal & General is continuing to support the Kensa Group’s expansion. The new, significantly larger factory, will accommodate the growing demand for ground source heat pumps as home owners and property developers look for a reliable source of low-carbon heating.”
In the two years since LGC first became shareholders in Kensa, the company has doubled the amount of ground source heat pumps made at its facility, with a plan in place to increase output by a further 50% to meet demand. It also said the investment from LGC had allowed the business to "significantly step up" efforts in areas such as research and develop, and operations.
Employment in the Kensa Group has also more than doubled over the period - from 80 employees in 2020 to 170 in 2022. Meanwhile revenues have risen from £15.5m two years ago to £31.5m this year.
Dr Matt Trewhella, chief executive of the Kensa Group, added: “For Kensa and L&G, coming together at this event showcases our shared ambition to play a pivotal part in the UK’s solution to reach net zero emissions by 2050. Heat pumps are key to the low-carbon economy, but the whole heat pump supply chain, including Kensa, will have to expand dramatically to meet the UK’s 2028 heat pump installation target.
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