Sero secures funding from Cardiff Capital Region to lower bills and drive energy efficiency in social housing

Sero has secured a significant investment from the Innovation Investment Capital Limited Partnership (IIC), the Cardiff Capital Region (CCR)-backed fund, to support the company’s continued growth and deployment of energy services solutions across the UK.

Cardiff-based Sero works with social housing landlords and partners to deliver energy-efficient, net-zero homes at scale. Its model blends retrofit, proprietary technology and energy expertise — spanning strategy support through to ongoing energy management services — with the aim of lowering bills, improving energy performance and cutting carbon emissions, while delivering ongoing revenues to landlords.

The new investment will enable Sero to further deploy and scale its energy services solutions to cut bills and deliver warmer, more comfortable homes for residents in social housing. The company currently works with local councils and social housing providers on 2,500 homes across the UK, with a further contracted pipeline of up to 10,000 homes.

The investment forms part of Sero’s latest funding round. IIC is a £50 million fund backed by Cardiff Capital Region, investing in scalable enterprises pioneering innovative solutions with measurable environmental and social impact across South East Wales.

James Williams, CEO of Sero, said:
“IIC’s investment is a vote of confidence in Sero’s vision and technology and was driven by a clear alignment between CCR and Sero, which both share the aim of using innovative solutions to drive down bills, cut carbon emissions and deliver better, more comfortable homes for residents. With this support, we will accelerate deployment of our energy-efficiency solutions, deepen partnerships with housing providers and unlock new pathways for sustainable growth.”

Kellie Beirne, Chief Executive Officer at Cardiff Capital Region, added:
“Supporting Sero reflects our strategic backing of local companies that leverage innovation to deliver strong commercial and societal outcomes. Sero’s growth trajectory, rooted in technology and its contribution to improving the energy efficiency of housing stock, makes it a compelling story. We are proud to back a business that not only drives economic value but also supports meaningful climate action and community benefit in our region.”

Laura Sandys, Chair of Sero, said:
“It is testament to Sero’s commitment to retrofitting social housing and addressing energy efficiency for those most in need, that this vital CCR fund has invested in the company. Not only will it help us to enhance our energy-as-a-service solutions, but it will also underpin the growth potential of Sero’s scalable business model in line with the UK government’s new Warm Homes Plan by delivering homes fit for the future.”

Capricorn Fund Managers serves as the Alternative Investment Fund Manager, overseeing portfolio and risk management, with PwC advising on investment research and sourcing on its behalf.

Further Information

Sero

Sero is an energy services company that helps social housing landlords and partners deliver energy-efficient, net-zero homes at scale. Its shared-savings model, powered by Solar PV, batteries and flexibility services, enables landlords to unlock new income streams, attract private finance and create affordable, comfortable and warm homes for residents.

Cardiff Capital Region (CCR)

Cardiff Capital Region is delivering a £1.2 billion City Deal investment fund focused on driving sustainable growth, innovation and inclusive prosperity across South East Wales.