Innasol GmbH raised £2.5m in 2013 to establish itself as the UK’s leading supplier of heat pumps, biomass boilers and other renewable heat equipment. Operating in the rapidly growing UK renewable energy sector, the investment capitalised on the Renewable Heat Incentive in addition to qualifying for EIS Tax Reliefs. Led by a management team with 30 years’ combined expertise in international business and financial practice across a number of industries.

In 2015 the directors and shareholders of the Company agreed to merge with a new UK-based company Innasol Group Limited to enable the provision of a £100m facility to the company to fund the installation of biomass boilers for large commercial customers and benefit from long-term index-linked RHI tariffs, although this transaction has rendered it ineligible for EIS.