Energy start-up to use fresh funding for UK expansion

Hometree, an energy start-up co-founded by Dubliner Simon Phelan, has been trying to shake up Britain’s home boiler market, where 1.7 million units are installed each year

Hometree founder Simon Phelan (r) with AV8's Miles Kirby (l)

Hometree,an energy start-up co-founded by Dubliner Simon Phelan, has secured $8.5m (€7.25m) of funding from a group of investors led by a newly-formed investment fund called AV8 Ventures.

Hometree, which describes itself as a “next-generation energy company” has been trying to shake up Britain’s home boiler market. 1.7 million boilers are installed in Britain each year and Hometree has developed an e-commerce system which enables customers to buy a boiler online.

It says ...