Blackfinch Ventures invests in Adia Thermal to accelerate heat pump adoption
Blackfinch Ventures, part of the Blackfinch Group, has invested £300,000 in Adia Thermal, a UK startup transforming the heat pump market with its innovative retrofit technology. The investment reflects Blackfinch’s focus on supporting companies that drive meaningful progress in the energy transition while delivering strong potential returns for investors.
Adia’s patent-pending hardware and software solution allows heat pumps to be retrofitted into homes without the need for extensive pipework or lengthy installation processes. Unlike conventional installations which can take weeks and require specialist engineers, Adia’s technology enables installation by regular boiler engineers in as little as three days, and even during boiler breakdowns.
Blackfinch’s Energy Transition EIS Portfolios provides investors with access to pioneering startups developing technologies that enable cleaner, more efficient energy generation, storage and distribution. Adia Thermal joins a growing portfolio of companies that reflect the potential for innovation in energy transition markets, which span a diverse range of sectors such as buildings, industry and transport.
Dr Reuben Wilcock, Head of Ventures at Blackfinch, said: “Adia is the perfect example of what our Energy Transition EIS aims to achieve. The company is solving a real world challenge with an innovative, scalable solution that supports the decarbonisation of the built environment. By investing in companies like Adia, we’re delivering value to investors while addressing critical infrastructure needs in the transition to net zero.”
Blackfinch Ventures was drawn to Adia’s strong founding team and early commercial traction. Adia has already partnered with industry leading heat pump installers and completed multiple successful installations across the UK. Feedback has been overwhelmingly positive, with installers praising the technology for its simplicity and effectiveness. Installers have even chosen to use Adia’s technology in their own homes, proving its transformative potential.
With heating accounting for 14% of the UK’s carbon emissions and 85% of homes still reliant on gas boilers, the government has set an ambitious target to install 600,000 heat pumps annually by 2028. However, heat pump adoption faces significant barriers, including high costs, long installation times and the need for extensive retrofitting in older properties.
Luke Hodgkinson, CEO of Adia Thermal, said, “Over 60% of UK boiler sales come from breakdowns, and by then it’s too late to get a heat pump, as current installation timescales are approximately four weeks or more. With Adia Thermal, a heat pump can be fitted in three days – as quickly and easily as a gas boiler – saving homeowners thousands of pounds, and letting them switch to greener heating without months of planning. This investment from Blackfinch will help us scale our solution and bring the benefits of clean heating to many more homes across the UK."
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