July 22 2014 Latest news:
Ben Woods, Business writer
Tuesday, July 1, 2014
An Attleborough-based renewable energy company is expanding its premises as its targets rapid growth this year.
Finn Geotherm is boosting its South Norfolk base with more office space and a new showroom to meet a growing customer appetite for its ground and air source heat pumps.
The company is forecasting turnover to rise from £1.4m to £5m in the next four years, as it expects more homeowners and businesses to turn their back on heating oil to take advantage of sustainable sources of energy.
It comes after the business was given a helping hand by the government in April when it announced the Renewable Heat Incentive (RHI), which encourages people to invest in clean energy by off-setting the cost of installing a low-carbon system in their home.
Commercial director Guy Ransom said the firm had attracted greater interest in its heat pump technology at the Royal Norfolk Show this year.
But he believes the government needs to do more to raise the profile of RHI to ensure more people understand the financial benefits of switching to sustainable energy.
“We want to take a step change up to the next level. We expect to double the number of staff we have from eight to 16, while doubling the size of our office at Attleborough,” he said.
“Ground and air source heat pumps are going to be a huge area of growth for us - the future is very exciting. But we need to make sure we are ready. We are like a Formula One car on the starting grid at the Monaco Grand Prix – and we don’t want to be left behind.”
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