A COMPANY making heat pumps is bringing new jobs to Worcestershire after a £2.5million investment.

Ventive, which makes modular heat pumps, has partnered with Hartlebury based company QM systems to produce their products.

The company said the move will create 16 new jobs and support the local economy.

Rob Morrison, managing director of Ventive, said: "The demand for more efficient domestic heating solutions has never been greater.

"This need has been compounded by the threat of climate change, and the current cost of living crisis which has sent energy bills soaring.

"We are delighted with the support provided by EMV Capital that helps to strengthen Ventive’s balance sheet, and provides us with the funding needed to accelerate the launch of our efficient and cost-reducing heat pump division, and equally importantly, with an experienced team of active investors who have significant industry expertise."

The heat pumps made by Ventive are modular exhaust pumps, which are targeted at both new-build and retrofitting.

The pumps can help make significant reductions in expenses and carbon emissions compared to traditional heating systems.

Ventive home heat pumps are fully integrated indoor environment control systems, which provide integrated ventilation, renewable heating, and hot water with free summer cooling.

The Heat Pump will arrive pre-plumbed and pre-configured with monitoring and energy storage to enable quick and simple installation.

The deal by EMV included an initial equity and debt investment of £600,000 from new investors.

EMV has taken a 16 per cent direct stake n the business and the deal also incudes debt restructuring of around £1 million.

Ventive has now partnered with QM Systems to scale up its production of heat pumps.

Ed Hooper, EMV capital director, and the newly appointed investment director at Ventive, added: "EMV Capital is very pleased to welcome Ventive into our growing investment portfolio.

"Ventive’s intelligent building service systems, which seek to dramatically reduce carbon emissions for homes, fit well with our focus on deeptech, and sustainability companies with an ESG impact. 

"I look forward to working closely with Ventive’s management team, and the company’s project partners, and driving value for investors."