The investment was part of a £1.5m round of financing, which will be used to help Vibrant Energy grow into the newly formed commercial and rental energy performance markets. The London-based business was founded in 2007 by Andrew Stead, who is the chief executive. Stead started the company in response the implementation of the European Energy Performance of Buildings Directive (EPBD) in the UK. The directive was introduced to reduce energy consumption and carbon emissions and requires all domestic properties bought or sold in the UK to obtain an energy performance certificate. By October 2008 all properties that are built, sold or rented will need an energy performance. Vibrant Energy , which is projecting turnover this year of £2.5m, will use the investment from Close Ventures to develop the domestic sales business but most importantly they will use funds to expand into commercial and rental markets. Picture
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