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Energy-saving app attracts six figure investment

An app designed to guide homeowners through retrofitting their properties is being developed after Dundee-based software group Heero Technologies secured a six-figure investment.

The app delivers personalised home energy efficiency recommendations, but also addresses challenges such as the disruption caused by invasive retrofit measures, confusion over financing and government grants for energy efficiency, the lack of flexibility and choice over technology, which installers to use, not to mention which manufacturer.

The six-figure investment comes from The TRICAPITAL Syndicate LLP, Scottish Enterprise and Mint Ventures.

Nicola Kennedy, chief executive of Heero Technologies, said: “Hitting the government’s net zero targets requires a major improvement in the energy performance of the UK’s housing stock and our technology has a leading role to play. Our App helps homeowners and landlords seamlessly and conveniently navigate home energy efficiency improvements via their Smartphone.

“We are thrilled to welcome TRICAPITAL, Scottish Enterprise and Mint Ventures to our investor base. The combined investment from these three exciting new partners will support our determination to accelerate the adoption of energy efficiency technology and realise our vision of equipping homeowners with the knowledge and tools to make net zero homes a reality.”

The investment will enable the app and accompanying website to be developed and scaled.

Gillian Fleming, CEO of Mint Ventures, said: “We are excited to be part of this investment, which closely aligns with our core values.

“Inclusivity is an essential element of innovation and Heero Technologies is a perfect example of a young, ambitious, woman-led business providing much needed accessible information for consumers to manage their home energy.

“We look forward to supporting them as they go from strength to strength.”

Alongside the investment, Heero Technologies also announced it has signed its first customer, an unnamed building society, which will see the App rolled out to approximately 350,000 users.

Kennedy said: “This is a positive endorsement of the Heero Technologies team and the solution we have created. We are excited about rolling out the project in the coming months.”