Revolution Energy announces new turnover target
RENEWABLE energy firm Revolution Energy is hoping to reach £1.5m in turnover in the next year after conquering a lull during the recession.
The Newton Aycliffe firm’s managing director, Wayne Richardson, said it had brought in revenues of £500,000 last year despite a spell early last year when “everybody panicked and nobody bought anything”.
He said: “The first few months of last year were absolutely dire. But even with that, we matched the previous year’s turnover. If it wasn’t for those four months, we’d be looking at around £900,000.
“We’ve expanded organically over the last four years. I don’t do debt. If I can’t pay for it, I don’t buy it.”
Wayne set up Revolution Power in 2006 after several years in the semiconductor industry. Its growth earned it the Tees Valley Best New Business Award for Environment in 2009.
Revolution installed its 100th heat pump at Sedgefield police station in January. While it still carries out some home fittings, it has also installed panels on two mental health units in Grimsby and fitted a solar thermal system in Middlesbrough which provides about 1,800 litres of hot water a day.
It has also just finished work on a five-month project for English Churches Housing Group, fitting a development in Middlesbrough’s Wellington Street that will house more than 100 homeless people.
Wayne only hires local workers because it reduces the carbon footprint of their commute.
The UK is becoming more focused on renewable energy due to measures such as the Government’s feed-in tariffs, which pays money for energy put back onto the grid. However, Wayne argues that some companies rushing to get a piece of the action are producing “shoddy workmanship”.
He said: “I’ve seen the good, the bad and the downright dangerous. The solar installations can be particularly dangerous. Water has the potential to reach 140 to 150C at high pressure. If you use soldered fittings it can melt the solder and you can have high-pressure water spraying all over the place.
“This is not the cheapest technology in the world so if you fit it, you want it to be correct, efficient and work for a long time. The secret is good customer service and sexy pipework. We do high-quality installations that I would be proud to show my mam.”
Wayne halved his own bills by installing a solar thermal system and an air source heat pump at his ex-council home.
He said: “I’m a Yorkshireman at heart and I don’t like spending money if I don’t have to. My costs went from £900 a year to around £430 for heating and hot water.”