tepeo Company Profile

Background

Founded in 2018, tepeo is a UK-based ClimateTech company dedicated to revolutionizing domestic heating by providing low-cost, low-carbon, smart, and straightforward alternatives to traditional fossil fuel systems. The company's flagship product, the Zero Emission Boiler (ZEB), serves as a direct replacement for conventional gas, oil, LPG, and electric boilers, aligning with tepeo's mission to assist homeowners in reducing their carbon footprint without compromising on comfort.

Key Strategic Focus

tepeo's strategic objectives center on:

• Product Innovation: Developing and enhancing the ZEB to offer an efficient, low-carbon heating solution that integrates seamlessly with existing home heating systems.

• Market Expansion: Scaling manufacturing and commercial operations to make the ZEB accessible to a broader UK audience.

• Sustainability Leadership: Setting industry standards for ethical and accountable practices, as evidenced by becoming the first domestic heating manufacturer to achieve B Corp certification.

Financials and Funding

tepeo has successfully secured significant funding to support its growth:

• Series A Funding: In 2024, the company raised £10.5 million, led by BGF, with participation from existing investors including the Clean Growth Fund, Bonheur, and Renewable Environmental Investments Ltd. This capital is earmarked for scaling manufacturing and commercial operations.

Pipeline Development

The primary focus of tepeo's product development is the ZEB:

• Zero Emission Boiler (ZEB): Launched in 2021, the ZEB is a heat battery boiler designed to replace traditional fossil fuel boilers. It utilizes electricity to store heat efficiently, releasing it as needed to provide consistent home heating.

Technological Platform and Innovation

tepeo's innovation is exemplified by the ZEB's unique features:

• Proprietary Heat Battery Technology: The ZEB employs a thermal core that stores heat generated during off-peak times, optimizing energy use and reducing costs.

• Smart Charging Algorithm: This system intelligently charges the thermal core based on factors such as electricity tariffs, grid carbon intensity forecasts, and user preferences, ensuring efficient and eco-friendly operation.

Leadership Team

• Johan du Plessis: Founder and CEO. Under his leadership, tepeo has achieved significant milestones, including the launch of the ZEB and attaining B Corp certification.

Competitor Profile

Market Insights and Dynamics

The domestic heating market is undergoing a transformation driven by the need for sustainable solutions. With heating accounting for a significant portion of household carbon emissions, there is a growing demand for low-carbon alternatives to traditional boilers.

Competitor Analysis

Key competitors in the low-carbon heating sector include:

• Sunamp: Specializes in thermal storage solutions, offering heat batteries that provide efficient hot water and heating services.

• Mixergy: Develops smart hot water tanks that optimize energy use and integrate with renewable energy sources.

Strategic Collaborations and Partnerships

tepeo has engaged in strategic partnerships to enhance its product offerings:

• Sunamp Collaboration: Partnered with Sunamp to provide a comprehensive heat battery solution, combining tepeo's ZEB with Sunamp's Thermino heat batteries for hot water, offering a low-carbon, space-efficient alternative to traditional heating systems.

Operational Insights

tepeo's competitive advantages include:

• Innovative Product Design: The ZEB's ability to store and release heat efficiently sets it apart from traditional and other low-carbon heating solutions.

• Ease of Installation: Designed to integrate with existing heating systems, the ZEB offers a straightforward replacement for conventional boilers without extensive home modifications.

• Environmental Impact: By eliminating on-site carbon emissions, the ZEB contributes significantly to reducing household carbon footprints.

Strategic Opportunities and Future Directions

Looking ahead, tepeo aims to:

• Expand Market Reach: Increase the adoption of the ZEB across the UK by scaling production and enhancing distribution channels.

• Product Development: Continue innovating to improve the efficiency and functionality of the ZEB and explore new product lines that align with the company's sustainability goals.

• Advocate for Policy Support: Engage with policymakers to promote fair treatment and support for a diverse range of low-carbon heating technologies, including heat batteries.