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Green Angels invest in Home Heating innovation

Green Angel Ventures has announced the completion of an investment in heata, a home heating innovation coming from data centres. Heata is a groundbreaking green distributed computing network that uses the waste heat from cloud computing to heat the water in people’s homes.

Founded in 2017 as a British Gas innovation project aimed at supporting people living in fuel poverty, heata enables companies to significantly reduce their carbon footprint while saving families up to £450 per year on their energy bills.

In 2022, the UK’s 450+ data centres accounted for at least 12% of the UK’s electricity consumption; the waste heat from just one could provide enough hot water for 11,000 homes. By capturing the waste heat from its servers into domestic hot water cylinders, heata uses the energy twice: once for computing purposes and again for hot water, reducing energy consumption by 60%. Heata enables its cloud customers – which include companies with heavy cloud computing requirements to reduce their carbon footprint and support households which are struggling with their bills in a cost of living crisis.

Magali Christensen, Investment Manager for Green Angel Syndicate, the only UK angel investment syndicate specialising in the fight against climate change, says:

“We are delighted to be investing in heata. This is a very good example of re-thinking systems to gain previously unperceived advantages in the fight against climate change. We applaud the team’s ingenuity, diligence and commercial acumen. This is a company with huge potential.”

Chris Jordan, heata’s Co-Founder and Chief Technology Officer, explains:

“Data centres are fundamental to our modern lives but they do use (and waste) enormous amounts of energy. All the processing energy ends up as heat and more energy is spent getting rid of it. But heat is useful, why waste it? At heata we’re reusing it to help tackle fuel poverty in a cost of living crisis; another key challenge of our time. This enables a step change in sustainable computing with a genuine social impact.”

Disclaimer – Investment in early-stage companies involves risks such as illiquidity, lack of dividends, loss of investment and dilution. Even when diversified within a fund, investing in early stage companies carries a higher risk than investing in more established companies. Investment in EIS and SEIS funds should be considered as part of a diversified portfolio. Green Angel Ventures Limited is authorised and regulated by the Financial Conduct Authority with Firm Reference Number 963377. The content is for information purposes only and should not be used or considered as an offer or solicitation to purchase or sell any securities.

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