GB Energy backs solar thermal innovator

Great British Energy has backed a major investment into a solar-thermal technology company which aims to reduce business reliance on gas.

Alongside Barclays Climate Ventures, the state-backed organisation has invested £8.875m in Naked Energy whose systems are already in use with organisations including the British Library and the All England Lawn Tennis Club.

The investment will support Naked Energy's plans to establish a new UK-based manufacturing facility for its solar-thermal technology, creating up to 40 direct skilled jobs and around 100 indirect roles. 

It’s technology generates renewable heat directly at the point of use, reducing gas demand without adding pressure to the electricity grid and helping businesses keep their energy bills stable when gas prices spike. 

Dan McGrail, CEO of Great British Energy, said: "Cutting our reliance on gas is one of the biggest challenges we face, both for energy security and for keeping bills down.”