The Chancellor, Rachel Reeves, visited Kensa's ground source heat pump factory to hear from Cornish businesses driving green growth and investment, and take part in a roundtable to discuss their role in Britain's energy transition.
During the visit, the Chancellor met with Kensa's CEO, Tamsin Lishman, and learned about the company's plans to ramp up production and installation of heat pumps to 25,000/year, growing its wider UK workforce to 450 and connecting more homes to its low-carbon networked heat pumps system.
The commitment of £13.2 billion for the Warm Homes Plan and the role of heat pumps as a frontier technology in the Government's recent 10-year Industrial Strategy were welcomed by Kensa representatives. They stressed that the next five years will be key for maintaining policy momentum and securing investment in UK heat pump manufacturing.
The visit was concluded with a roundtable where discussions centring on Cornwall's role in green growth with a focus on the potential of geothermal heat and power. The Chancellor was interested in exploring how the resources of the National Wealth Fund, the British Business Bank and UK Export Finance to underpin industrial growth in Cornwall and help it reach its full potential.
The companies represented at the discussion included Geothermal Engineering Ltd, Celtic Sea Power, Eden Geothermal Limited, Cornish Metals, and Naked Solar, with local MPs, Perran Moon and Jayne Kirkham (ADE VP), Cornwall Chamber of Commerce and the National Wealth Fund also in attendance.
Rachel Reeves, Chancellor of the Exchequer, said:
"It was fantastic to visit Kensa today and hear their ambitious expansion plans first-hand. Companies like Kensa are crucial to transforming Britain into a clean energy superpower.
“Meeting with local energy leaders to discuss Cornwall’s role in green growth demonstrated exactly what our Plan for Change is about. We are backing British innovation, supporting homegrown energy and putting money back in working people’s pockets through cheaper, cleaner energy.”
Tamsin Lishman, Kensa CEO, said:
“Kensa sits at the heart of the government’s plans for green industrial growth, a proud Cornish manufacturer of ground source heat pumps and a nationwide installer of heat networks. Kensa has bold ambitions to invest and expand its workforce and operations over the next five years, making sure it fully plays its role in the delivery of green jobs and growth.
“I have been buoyed by the recent government announcements on the Future Homes Standard, major funding commitments for the Warm Homes Plan, and a clear plan to bolster heat pump manufacturing as part of the new Industrial Strategy. This is the policy platform we need for growth in Kensa and in Cornwall, and we look forward to working with the government to deliver it.”
The Chancellor meets Kensa factory workers in Cornwall
Kensa's networked heat pumps