Octopus Energy has bought a Northern Irish manufacturer of heat pumps, the technology that experts believe could replace the UK's gas boilers in future.
The deal for Renewable Energy Devices will see Octopus take a majority stake in the Craigavon-based firm. The company's factory will be able to produce 1,000 heat pumps every month by the end of this year and there are potential plans in place to expand into new manufacturing sites.
Heat pumps work like reverse air conditioners and heat homes in highly efficient ways. The UK Government hopes that 600,000 heat pumps will be installed in homes every year from 2028.
