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Yorkshire Renewables Firm Surges Past £40 Million with Tenth Strategic Acquisition

Fast-growing cleantech business Green Building Renewables‘ tenth acquisition sees it surpass the £40 million turnover milestone as it continues its rapid expansion across England at the start of 2024.

Crawley-based Doré Woodman has joined Green Building Renewables’ nationwide network of renewable experts, allowing the company to expand further into Kent, Surrey, and Sussex.

Today, VAT on battery storage systems has reduced to zero per cent. Consumers no longer need to install solar panels alongside battery storage solutions to benefit from the new rate, This means households which already have solar panels but no battery storage can now install battery storage solutions at the new rate.

Battery Storage Solutions, like the Tesla Powerwall, also allow consumers to fill their batteries with cheaper night-time electricity and use it during the day when electricity rates can be higher. This is particularly useful during the dark winter months when there is less sun, if a household has solar. However, customers don’t need to have solar panels to benefit from storing cheaper energy at night and using it during the day.

Since 2021, Green Building Renewables has increased its turnover more than tenfold from £3m to over £40m. At the same time, staff numbers have risen from 18 in its York office to over 200 across its fourteen regional offices in England.

The UK government has a solar target of 70GW by 2035. Green Building Renewables’ rapid growth in the last two years reflects the increasing demand for domestic and commercial solar. At the same time, a fluctuating market has seen the demand for low carbon and more efficient heating solutions increase.

Last year was a record year for Heat Pump installations, with 39,268 installed in the UK. The record beats the previous one set in 2022 with an increase of nearly 20%. Whilst this figure includes only those heat pumps certified by the MCS, the true number is not likely to be much higher.

Doré Woodman’s acquisition and Green Building Renewables’ further expansion into the South and home counties is part of the company’s continued strategic vision to extend the benefits of solar energy and low carbon heating to as many local communities as possible nationwide.

Green Building Renewables’ model is built on providing regional expertise and cutting-edge technology, which is only installed by local in-house engineers. The company aims to deliver efficient, reliable, cost-effective renewable solutions, including solar and heat pumps, to the domestic and commercial sectors across the UK.

The company aims to be the largest installer of domestic renewable technology by 2025 with a turnover of £100million.

Managing Director of Green Building Renewables, Chris Delaney said, “Our tenth acquisition and surpassing the £40million turnover mark is a double milestone for the company and a great start to the year. Everyone within the business can be extremely proud of our achievements in the last two years.

“We have grown our reach and expanded our coverage across England. Our ambitions for 2024 are even bigger as we aim to have full coverage of England. We welcome Ben Freeman and the team at Doré Woodman to ours.”

Green Building Renewables offers a range of renewable technology solutions through its growing network of local energy experts. It provides air and ground source heat pumps, underfloor heating, solar PV, EV charging, and battery storage.

Ben Freeman, founder of Doré Woodman, said on the deal, “From the outset of our discussions, it was clear that Green Building Renewable is creating something unique. Its model of a nationwide network, based on local installers, is exactly what this market needs and aligns with our own core-beliefs.

“Unlike conventional heating systems, heat pumps require extensive design, installation and commissioning capabilities coupled with a supportive, customer-driven mentality. Our full-system approach links the many different renewable systems into one bespoke solution, thereby ensuring a streamlined, efficient process to deliver the perfect outcome and a best-in-class customer experience”.

Doré Woodman serves residential clients in Kent, Surrey and Sussex and specialises in heat pump installations. The business has focused on self builders, SME developers and retrofit installations of heat pumps, solar PV, battery storage, MVHR and underfloor heating and aligns perfectly with Green Building Renewables’ model, which is built on providing regional expertise and cutting-edge technology, which is only installed by local in-house engineers.

Green Building Renewables recently appointed Chris Joubert as its new Merger and Acquisition Director to lead further growth of Green Building Renewables through the strategic acquisition of reputable renewable installation companies across England. Chris said, “Doré Woodman is the perfect example of the calibre of company that we want to join Green Building Renewables and to help expand its network. While I can’t take responsibility for bringing this acquisition on board, it is a perfect blueprint for the type of business I will be looking for and aiming to get into the company’s nationwide network.

“I am looking forward to working alongside Chris and the team at Green Building Renewables to help reach its ambitions of becoming the largest domestic renewables installer in England and to reach its £100million turnover.”

Green Building Renewable’s network already includes regional offices in York (x2), Doncaster, Scarborough, Newcastle, Daventry, Wellingborough, Colchester, Oxford, Nottingham, Norwich, Cambridge, and Chichester. The company also partnered this year with Australian Company Smart Ease to bring Commercial Payment Plan solutions to market for businesses. The payment plans offer flexible funding to companies to secure smart and energy-efficient equipment for their organisation.