A Bristol-based startup has now raised nearly £1m in funding after securing a government grant to develop its heat pump technology.
Founded in 2022, Nusku said it is applying for a patent for its heat pump system that it claims can be installed in a few days rather than a week.
The air source heat pump will also be cheaper to install, the startup added, and be the “most connected and efficient on the market when it launches in the next few years”.
Nusku received a £727,000 grant from the Department for Energy Security & Net Zero via its Heat Pump Ready Programme.
It follows a £245,000 pre-seed funding round that attracted investors from the energy sector, including MyEnergi founder Lee Sutton and Midsummer Energy co-founders Kate and Andy Rankin.
“It’s been a whirlwind few years building a company from scratch and I’m still pinching myself at what’s been achieved,” said Russell Murchie, co-founder and CEO of Nusku. “While we had confidence in our idea, if you’d told me two years ago that we’d raise almost £1m to develop it, I’d have struggled to believe you!”
Murchie, who founded Nusku with Matthew Whitefoot and Andy Mckay, added that they launched the company after asking why heat pumps are more popular outside of the UK.
Heat pumps use electricity to move heat from outside air to indoor radiators. The government sees them as an important part of its net zero plans.
Other companies that have secured funding from the government’s Heat Pump Ready Programme include insulation installation robot startup Q-Bot and Thermly Distress Diagnostics.
Nusku has six members of staff based at Future Space, the University of the West of England’s (UWE) innovation centre.
Murchie, who previously spent 17 years at Dyson, highlighted its Bristol location as a benefit for the startup.
“Being based in an enterprising city, with a strong green ethos, has also benefited Nusku at this early stage,” he said. “Not only has Future Space offered office and workshop space, the team has accessed free support from the innovation team and their advisory network, worked with interns from UWE Bristol and received technical advice from university staff, all while being located alongside other green tech businesses.”
Read more: Bristol and Bath regional tech report