Boilers - Investors bet on eco boilers

14/01/2008

British Gas' parent company has acquired a stake in a company developing an eco-friendly energy efficient boiler, in a development which underscores that green concerns are increasingly entering the mainstream.

Centrica has taken a ten per cent stake in alternative energy innovators Ceres Power for an estimated outlay of around £20 million.

The deal is thought to have hinged on the potential of Ceres' gas-powered boiler which generates electricity, which can then be sold back to the National Grid.

Under the terms of the contract, British Gas will also buy over 35,000 of the firm's fuel cell-powered boilers over the next four years, the Guardian reports.

Meanwhile, Ceres Power pledged to invest £5 million in further development of the boilers, including a programme of trials and drawing up a marketing strategy.

The deal has been interpreted by environmentalists as a further sign that green energy solutions such as Trianco boilers or Worcester's Greenskies solar panel-powered system will find increasing favour among the general public as they become more and more aware of the growing problem of climate change.