Last Mile Infrastructure and Rendesco have formed a joint venture, Last Mile Heat Networks, to provide sustainable heat pump solutions for UK housebuilders, enhancing their market positions and supporting government emissions targets.

Target Information

Last Mile Infrastructure (Last Mile), recognized as one of the UK’s leading Independent Network Owners, has established a strategic partnership with Rendesco, a specialist in heat pump technology. This collaboration aims to create a joint venture named Last Mile Heat Networks (LMHN), focusing on the development of ground source and water source heat pumps. This initiative offers housebuilders throughout the UK an environmentally sustainable and efficient heating solution for residential properties.

Last Mile is engaged in the design, installation, ownership, and operation of multi-utility networks, including gas, electricity, water, and wastewater services, alongside smart metering solutions for new builds. The company oversees over 400,000 connections supporting both residential and commercial clients, with a robust contracted order book comprising approximately 390,000 connections. It operates as a part of Infracapital, the infrastructure equity investment division of M&G.

Industry Overview

The UK heat pump market has gained significant traction in recent years, spurred by governmental policies aimed at reducing carbon emissions and promoting sustainable energy solutions. The UK government has set ambitious targets, such as achievin