A WARRINGTON firm has received a £500,000 investment boost from the Northern Powerhouse Investment Fund (NPIF).

Small and medium-sized enterprises investor Maven Capital Partners has announced the £500,000 investment – on behalf of the NPIF – into Birchwood-based Aberla Services.

Maven was appointed earlier this year to manage the £57.5 million NPIF.

It is focused on providing flexible equity funding to SMEs, with a focus on supporting their growth aspirations and contributing to regional economic development, job creation and innovation.

The investment deal marks NPIF’s first in Cheshire and Warrington.

Aberla is a leading energy services business backed by Praetura, which successfully brought AIM listed Inspired Energy to the market.

The NPIF investment will allow the company to expand the team and ‘exploit opportunities’ in the growing market for commercial solar photovoltaic systems, battery storage solutions and air source heat pumps, which benefit from the Government’s renewable heat incentive scheme.

Jeremy Thompson, investment manager at Maven, said: “We are delighted to support Aberla as it looks to exploit a number of exciting renewable energy opportunities.

“This is going to be a very interesting market in the next few years as the UK undergoes changes in the way electricity is produced, used and stored.

“We are extremely pleased to be backing an experienced management team who are capable of taking advantage of the coming changes in this market and driving the business forward.”

Paul McCarren, managing director at Aberla, added: “With the UK energy market certainly showing no signs of slowing down our business plan demonstrates the immense potential for strategic growth and significant opportunities ahead.

“We are looking to grow turnover by targeting new sectors, diversifying into new technologies and increasing knowledge collaboration with our partners.

“In addition to our recently launched rebrand we are also currently recruiting a number of key roles within the organisation, and with our new investors onboard, we now have the basis to make a real splash in the energy industry.”

The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humber, Leeds City Region, Sheffield City Region, York, North Yorkshire and East Riding.

The NPIF project is supported financially by the European Union using funding from the European Regional Development Fund.

For more information visit npif.co.uk.