Housebuilder Greencore Homes has secured equity investment of £30m from M&G Investments, which will be used to drive the company’s ambitious expansion plans.
The company, which specialises in constructing low carbon and energy efficient homes, is targeting land acquisitions across the South East of England to complement existing development sites, and intends to deliver 10,000 homes in the next decade.
M&G invested £15m in the company around two years ago and the £45m total investment in Greencore has been made by Catalyst – a £5bn purpose-led private assets strategy, investing in innovative companies tackling some of the world’s biggest environmental and social challenges.
Zach Webb, head of European investments in Catalyst, said: “Greencore’s approach is unique and a disruptive solution with huge potential to scale. Our extra investment will create opportunities to deliver urgently needed high quality, ultra-low carbon homes, using methods and materials that showcase what the future of the UK housebuilding industry could look like.”
Jon Di-Stefano, CEO of Greencore Homes, added: “Our vision is to lead the housebuilding industry in the delivery of climate positive homes and M&G’s further investment reflects their confidence in our potential to take on this role and operate at scale. This investment will enable us to secure the land needed to deliver on our targets whilst supporting local communities, jobs and the environment. We look forward to continuing our strong relationship with M&G while we seek out new partnerships to help bolster our pipeline and support our target of building 10,000 climate-positive homes.”
