The funds will be used to boost sales in the existing domestic EPC market and help the firm expand into the newly formed commercial and rental markets.
Vibrant Energy Surveys was established in 2007 as a direct response to the UK’s implementation of European energy performance of buildings directive. All domestic properties bought or sold in the UK are required to have an EPC. From October all properties, domestic and commercial, being built, bought, sold or rented will need an EPC.
Close Ventures assistant director Michael Kaplan says: “Energy performance certificates are the cornerstone of the UK’s drive to improve the energy efficiency of buildings and reduce their carbon emissions. Vibrant Energy already has an outstanding energy assessor force and is in a great position to serve the commercial and rental markets when they roll-out in October 2008.”
Vibrant Energy Surveys chief executive officer Andrew Stead says: “Close Ventures really understood what we needed from a venture capital partner and have already added value to how we want to take the business forward.”