Sir Nigel Wilson, CEO of Legal & General, officially opened The Kensa Group’s factory and office last week.
The office and production facility, located at Mount Wellington Mine in Truro, Cornwall, was officially opened in a ribbon-cutting ceremony by Sir Nigel, followed by a reception and site tour of the facilities.
Earlier this year, Legal & General Capital (LGC), the alternative asset platform of Legal & General Group, made an £8m investment into the Kensa Group. This brought its total investment in the organisation to £15.7m over two years.
According to LGC’s representatives, the capital supports The Kensa Group as it continues to scale up the deployment of low carbon ground source technology and networks to meet government targets, whilst realising LGC’s ambitions to support the UK’s transition to clean energy and L&G Group’s focus on climate and inclusive capitalism.
Sir Nigel Wilson, CEO of Legal & General, said: “Climate is not only the most urgent issue but also the biggest investment opportunity of our lifetimes. Investing in businesses that support the clean energy transition alongside significant job creation is central to how we deliver inclusive capitalism, so I’m delighted that Legal & General are 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.”
Dr Matt Trewhella, CEO of The Kensa Group, said: “We are delighted that Sir Nigel Wilson, CEO of Legal & General Group is able to officially open our fantastic new factory and office. 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.
“The investment from Legal & General Capital has allowed us to significantly step up our efforts in areas such as R&D and operations, as we continue to prepare for further rapid growth.”