Luthmore raises £4.5m seed to roll out zero-emission boiler
What's the deal? Luthmore, the Chippenham-based engineering company behind a battery-enabled zero-emission boiler, has raised £4.5 million in a seed round from existing investors including The FSE GroupDealroom has a profile for this one. Try Dealroom → and the South West Investment Fund. The money will fund the commercial rollout of its flagship Luthmore One boiler, now being installed in UK homes.
What's the context? Founded in 2022 by Dyson alumni Craig Wilkinson and Martin Gutkowski, Luthmore pitches the product as a zero-emission alternative to the gas combi boiler for small to medium-sized homes. The Luthmore One fits the same wall space as a traditional boiler and uses lithium iron phosphate batteries, targeting properties where a heat pump is difficult or costly to install.
Why now? The raise marks Luthmore's shift from product development to deployment. The boiler has passed its SAP assessment, and the company has built an installer training programme and is growing its commercial team, including the appointment of chief financial officer Marcus Quarterman, formerly of Prolectric, Dyson, and PwCDealroom has a profile for this one. Try Dealroom →.
By the numbers: The £4.5 million round sits in the 95th percentile of all-time UK energy seed rounds, based on a sample of 1,103 deals. Luthmore has also been selected for Connected Places Catapult's Innovate UK-funded Scale-Up Support Programme.
What could go wrong? Heat pumps remain the primary technology in UK decarbonisation plans, with a target of 450,000 annual installations by 2030 and substantial public support. Luthmore must prove its installation convenience converts into adoption — the round is a commercial test, not evidence of broad traction.
"The team has made significant progress in developing its technology and is now entering an important stage as it looks to build commercial momentum," said Ralph Singleton, head of equity south west at The FSE Group.
The signal: UK heating policy is tightening, with new low-carbon standards for new homes due from 2027. Luthmore is betting that a simpler, drop-in gas-boiler replacement can carve out a niche in buildings where heat pumps fall short.
Read more: wholelifecarbon.com
Image credit: Generated with Gemini
