Flowgroup In Deal With Zopa For Boiler Customer Financing

LONDON (Alliance News) - Flowgroup PLC Monday said it has struck a deal with peer-to-peer lending ...

Alliance News 1 December, 2014 | 7:56AM
Email Form

LONDON (Alliance News) - Flowgroup PLC Monday said it has struck a deal with peer-to-peer lending platform Zopa under which Zopa will provide finance to Flowgroup's boiler customers, another key step in helping getting its new boilers to market.

Flowgroup hopes its innovative Flow boilers will help householders cut utility bills by being efficient gas boilers whilst at the same time producing electricity that can light the home or be sold back to the electricity grid. Volume production of the boilers began recently and Flowgroup is planning a full sales, marketing and PR launch in mid-January 2015.

Flowgroup's Flow Finance package will provide a payback time of five years for the complete cost of the Flow boiler. Customers can buy the Flow boiler using a separate unsecured personal loan through Zopa and repayments are off-set by reductions in the customers' home energy bills from the value of the electricity generated by the boiler, according to Flowgroup.

Flowgroup will introduce its customers directly to Zopa for finance, and has got Financial Conduct Authority approval for limited credit broking, which it needs to be able to do this.

By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1

Copyright 2014 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Flowgroup PLC

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation

By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites