£6.5m Lincoln green energy company splits in three
A Lincoln green energy supplier has split its business into three divisions following its business successes recently.
In the last five years Freewatt has improved its turnover from £44,000 to over £6.5 million, prompting the reorganisation.
The divisions will be:
- Freewatt Renewable Heat – set up to develop biomass boiler projects
- Green Makeover – established to install environmental technologies in period homes
- Freewatt – the base of the company, which will focus on solar energy projects for domestic and business properties, and developing large scale solar farms
Freewatt Renewable Heat has already gained a contract with a Lincolnshire school to fit a system worth £800,000.
The companies will run under parent company Freewatt Group, and will be overseen by new Managing Director Amanda Legate, who previously was a Partner at Streets Chartered Accountants in Lincoln.
Freewatt owner and previous Managing Director Julian Patrick will become the company’s CEO so he can focus on business development.
CEO Julian Patrick said: “It’s a very exciting time for Freewatt. Our growth has exceeded all our expectations and we have really outgrown our current structure.
“In some ways it is a bold move but Freewatt was built around a bold vision so it’s in our DNA.
“I’m certain this will herald another fantastically successful period for the company and I’m looking forward with enthusiasm and confidence.”
MD Amanda Legate said: “I’m thrilled to have this opportunity to work with Freewatt. The company is a shining example of success without losing sight of the founding principles.
“The new structure allows great opportunity for further expansion and it’s my aim to ensure that we meet the forthcoming challenges with drive and conviction.”
The company has installed enough solar energy enough to power 2,000 homes, and saved 5000 tonnes of CO2.
It was also the first company to erect a solar farm in Lincolnshire, install panels on a Grade I church and a solar tracker in the county, provide education packs in schools and just finished the largest roof solar project in east England.
