secures second round of investment from Hodge Bank and Legal & General Capital
Summary
Sero is excited to accelerate its journey with the continued confidence and backing of both its Series A investors at a key stage in the company growth.Sero uses novel digital technology combined with construction expertise to focus on simple and affordable outcomes for residents and property owners, primarily in the social housing sector currently. These values are a perfect fit for Hodge, as our mission is to help our customers in the moments that matter, and the climate and cost of living crisis are just that pivotal moments which we have to work together to reverse and support one another with.John Bromley, Managing Director Clean Energy said: Im delighted that LGC has increased its investment in Sero Technologiesthey are a great example of how new and growing businesses can power the UKs shift to cleaner energy. Their work supporting the transition to net zero across the residential housing sector is well-aligned with our inclusive capitalism ethos of investing to create social, environmental, and economic benefits across the country.Residential retrofitting represents a significant market opportunity both to achieve the UKs legally mandated target of net zero by 2050, and reduce household exposure to volatile global fossil fuel markets: almost every home in the UK will need to be improved or retrofitted with some combination of enhanced energy efficiency and low carbon heating. Seros pragmatic approach provides an end-to-end solution that starts with a digital Building Passport that captures the unique nature of each home and then allows the homeowner to plan a stepped Pathway to Zero that best suits their preferences whilst recognising the ongoing decarbonisation of the energy grids. LGC has built its capabilities in a range of alternative sectors, including in residential property; specialist commercial real estate; clean energy; alternative credit; and venture capital, which are all supported by long-term structural growth drivers, meet a financing gap and respond to a scarcity of supply that is underpinned by enduring societal needs.Its purpose is to invest societys capital for societys benefit.