A company aiding production of green energy in the commercial environment has successfully secured a £200,000 East of England Regional Development Loan to take advantage of growth opportunities in the market.
Cambridge based Arriba Technologies has been designing and building algorithm driven heat pumps for the commercial refrigeration market since 2003. Over the last two years the company has broadened its focus to encompass wider commercial energy integration and has developed its innovative Volt-Hub: an electronic, software controlled power drive box capable of moving electricity around an internal grid more efficiently than any other system on the market.
Arriba’s integrated offering connects the energy generated by solar panels and batteries to its unique hub and converts it without the standard 20% power loss experienced with traditional systems, meaning that more renewable energy can be put to use across a range of outputs.
Steve Connolly, Arriba founder and CEO, explains: “Our technology provides lower carbon and lower cost energy that can be used in a number of ways from commercial refrigeration to electric vehicle chargers. A big area for us is the drive towards zero-carbon buildings; by linking our Volt-Hub to the internal wiring system of a building, we can deliver sustainable energy for use within that building. Examples of this can be seen at installations in Cambridge and Chelmsford where our systems use energy generated within each building to provide cooling, heating, lighting and water pumping services. Carbon savings in excess of 70% can be attained and in the event of an external power failure, the stored power could maintain these services for up to 24 hours.”
With an increasing focus on the sustainability of commercial buildings, there is significant demand for an integrated product that can bring such significant carbon reductions. The company is already operating in the NHS, office buildings, supermarket and food manufacturing sectors and has received interest from a number of major UK and overseas buyers. In view of this strong and growing pipeline, the regional development loan will assist the recruitment of key employees to convert sales and meet operational demand as well as extend market traction and support ongoing product development.
Francis Kenealy, Fund Manager at Finance East which manages the Regional Growth Loan Scheme, comments: “Steve’s technical expertise and commitment to innovation has paid off with the Volt-Hub, which was developed in response to a clear gap in the existing technology. As a producer of the only system of this kind, now commercially proven to deliver both lower energy costs and a significantly reduced carbon footprint, Arriba is on the cusp of exponential growth and we are delighted to be working with them to achieve their growth potential.”
The Regional Growth Loan Scheme (RGLS) is managed by Finance East, part of The FSE Group, on behalf of Local Enterprise Partnerships in the East of England and British Business Bank. The RGLS is available to established, incorporated businesses based within the East of England that have a minimum annual turnover of £100k, show strong growth potential and have a medium to long-term funding requirement to deliver that growth.