Smart Investment

Investor lights the way for expansion of innovative South West heating firm

Posted 18th May 2009

Cheltenham-based So-lar Smart Heating Systems Limited is set to further develop its unique solar heating technology after receiving equity backing from a South West-based entrepreneur.

The company is currently patenting new technology which dramatically increases the quantity of heat extracted from solar collectors so that a whole house can be heated from solar energy with only a modest change to a domestic hot-water cylinder.

This is a huge development in the use of solar energy which will provide householders with an energy-efficient and cost-effective heating solution. Traditional solar panels only heat water unless an expensive and bulky heat exchanger/thermal store is installed.

Equity finance for the future development of the company has been provided by serial entrepreneur Brian Dorricott, who recognised the potential for expansion in the heating systems company, which is based on the Cheltenham Trade Park and employs four people.

Matthew Lee, Managing Director of So-lar Smart, said “Having Brian’s financial backing and experience as a business mentor going forward will mean that we can finally fulfil the potential of our innovative technology. Local homeowners who have already installed our system in their homes regularly tell us what a difference it has made to their heating bills. Everyone at the company is really energised by Brian’s support and we are all excited about the future.”

As building regulations change to require buildings to be more energy efficient and reduce green-house gasses, So-lar Smart is in an excellent position to provide its innovative and effective solution to home owners and builders.

So-lar Smart is a real success story in South West business circles. Its growth has captured the attention of many people including a succession of Cheltenham Mayors, including the current post holder Councillor Robin MacDonald who agreed to visit the company when the business deal was signed.

Interest in the company is hardly a surprise considering the company has won two national installer awards from Worcester Bosch, beating off other stiff competition in the industry.

Cheltenham solicitors BPE, led by Corporate Partner Tim Ward, acted for So-lar Smart.

“The innovative nature of So-lar Smart’s products means that it is developing a lucrative niche in the energy efficient heating market. With the company’s recent investment from business angel Brian Dorricott I am confident that the business will continue to lead the way in product development and customer service,” said Tim.

Additional information may be found at:

  • So-lar Smart Heating Systems

    So-lar Smart Heating Systems provides an all round quality service using only top quality products such as Worcester Bosch Group Boiler & Solar Collectors, Oso Unvented Hot Water Cylinders and IVAR UK under floor heating components.