Rendesco

Rendesco is a UK company that designs, installs, operates and maintains heat pump infrastructure and low-carbon heat networks. It works across large-scale residential and commercial projects, using ground-source and water-source technology to supply heating, hot water and, in some schemes, cooling to homes and other buildings. The company also runs a nationwide operations and maintenance division providing 24/7 monitoring, remote optimisation and field engineering under the RendescoCare banner.

For individual homeowners, Rendesco markets Rendesco Flow, a package combining a cylinder-free air-source heat pump, battery storage and a smart controller, with survey, installation and ongoing energy management included. The controller charges the battery and runs the heat pump when electricity is cheaper, with the company stating installation is typically completed in a single day and that energy costs can fall by up to 50% depending on home, tariff and usage.

The business is organised into design, engineering, operations and maintenance, project management, commercial and supply chain, and business development teams, with in-house geothermal drilling capability added in 2024. Design work is aligned to Building Regulations, the Future Homes Standard and CIBSE CP1 guidance, and installations reference industry schemes including MCS and NICEIC.

Founding story

Rendesco was founded in 2012 by Alastair Murray, who remains CEO; he is described as co-founder and managing director in 2020 coverage and has experience in the design, build, financing and operation of heat pump systems and heat networks.

Business model

Rendesco delivers end-to-end clean heat: designing, drilling, installing and then owning or operating heat networks that supply heat and hot water to households, alongside direct-to-homeowner heat pump and battery installations with ongoing monitoring and maintenance. New-build home solutions are owned by Last Mile Heat, a joint venture with Last Mile Infrastructure, which funds capex for housebuilder developments. The company described its underlying business as already profitable at the time of its 2024 raise.

Revenue comes from designing and installing heat pump and heat network systems for developers and homeowners, and from operating and maintaining heat networks that supply heat and hot water to households, supported by the RendescoCare monitoring and maintenance service.

Traction

The company reports more than 10,000 UK homes installed, 35,000 tonnes of CO2 saved and over 14 years of trading. In 2024 its heat networks supplied clean heat and hot water to 8,115 homes across the UK, and the Last Mile Heat joint venture had built a pipeline of £150m of clean heat infrastructure. In 2020 it had over 400 bespoke heat pumps installed and more than 66MW of renewable heating capacity. Published customer case studies cite energy cost reductions of 40%, 45% (about £980 a year) and 65% (about £1,455 a year).

Latest developments

In 2024 Rendesco announced it is designing and installing what it describes as the UK's largest water-source heat network at Welborne Garden Village, providing clean heating and cooling to 6,000 new homes, closed a £6 million raise in June, and in August acquired ADP Group's geothermal drilling operation, with ADP's Tom Page joining as Head of Drilling. More recently the company has promoted Rendesco Flow, its homeowner heat pump, battery and smart control offering.