Hemiko
Hemiko designs, funds, builds, operates, and maintains low-carbon district heat networks across the UK, serving local authorities, property developers, housing associations, and public-sector clients with multi-decade ESCO concessions and integrated design-build, O&M, and metering services.
- Company typePrivate
- Founded2012
- HeadquartersRockcliffe, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Hemiko does
Hemiko, formerly Pinnacle Power and rebranded in September 2023 following a landmark partnership with DIF Capital Partners, is a UK-based district heat network utility provider. The company designs, builds, funds, operates, and maintains low-carbon district heating networks that aggregate waste heat from data centres, industrial facilities, water source heat pumps (e.g., River Thames), air source heat pumps, and CHP units, and distribute it via insulated underground pipework to residential, commercial, healthcare, educational, and public-sector buildings. Hemiko's technology stack includes a proprietary metering and billing platform called Captus (developed in-house in 2017), prefabricated off-site energy centres, and a portfolio of operational assets including the 87MW Greenwich Peninsula ESCO (serving 15,700 residential units and 215,000+ sq ft of commercial space), Clapham Park (3,524 homes), and acquired networks in Lambeth and Wandsworth. Major in-flight projects include SWAN in Westminster (£1bn lifetime investment in joint venture with Vital Energi), OPEN at Old Oak and Park Royal (£600m lifetime, drawing data centre heat from Vantage), the Waterloo and South Bank Heat Network (£72.7m early-stage, using River Thames heat pumps), and the Worthing Heat Network (£500m lifetime).
Hemiko generates revenue through six primary streams: long-term ESCO heat supply contracts (25-35 year concessions, governed by HeatTrust and local authorities), design and build services (£4m-£87m typical contract range), operation and maintenance services, customer service / metering and billing (delivered via the With Energy customer-facing brand and Captus platform), heat network funding and capital structuring, and bespoke consultancy services. Pricing is not publicly disclosed but is regulated under HeatTrust and tied to local authority oversight. The company serves local authorities, property developers and housebuilders, housing associations, healthcare providers (NHS hospitals), educational institutions, cultural venues, and residential communities across London, Worthing, Crawley, Lambeth, Wandsworth, Greenwich, Birmingham, and Westminster. Hemiko also launched the UK's first Heat Network Maintenance Technician Apprenticeship in 2025, establishing an industry standard qualification endorsed by IMechE and IfATE.
Hemiko firmographics
Firmographics- Name
- Hemiko
- Legal name
- Hemiko Ltd
- Website
- https://hemiko.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Hemiko designs, funds, builds, operates, and maintains low-carbon district heat networks across the UK, serving local authorities, property developers, housing associations, and public-sector clients with multi-decade ESCO concessions and integrated design-build, O&M, and metering services.
- Ownership category
- akta.pro rank
Hemiko industry classification
Industry- Product category
- District Heating / District Energy Networks
- NAICS
- Steam and Air-Conditioning Supply (221330), Steam and Air-Conditioning Supply (22133)
- SIC
- Cogeneration Services & Small Power Producers (4991), Steam & Air-Conditioning Supply (4961)
- akta.pro primary industry
- Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF)
- akta.pro secondary industries
- Thermal Power Plant EPC (Gas/Coal/Oil) (EUAEAAAA), Power Plant Retrofit, Life Extension & Environmental Controls EPC (FGD/SCR/ESP) (EUAEAAAO)
Keywords
Where Hemiko is headquartered
LocationHeadquarters
- HQ city
- Rockcliffe
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Hemiko business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Personnel, Supply Chain, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Heat Supply and ESCO Services: Long-term Energy Service Company (ESCO) contracts supplying heat to residential and commercial customers through owned heat networks. Governed by HeatTrust and local authorities to maintain fair pricing. Revenue derived from heat sales, metering charges, and standing charges over concession periods of 25-35 years.
- Design and Build Services: Design and construction of district heating networks for developers, local authorities, and property owners. Contracts typically ranging from £4m to £87m for network infrastructure.
- Operation and Maintenance Services: Ongoing O&M services for heat network assets on behalf of asset owners. Includes reactive maintenance, lifecycle upgrades, and 24/7 emergency support.
- Metering and Billing Services: Customer service, heat metering, and billing services delivered through Captus platform. Can be bundled with O&M or offered standalone.
- Heat Network Funding: Hemiko provides investment capital to fund heat network infrastructure, creating innovative financial models that work for all parties over the short, medium and long-term.
- Consultancy Services: Bespoke design and consultancy services for energy strategies, masterplan development, concept design through to detailed design work and design reviews.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Heat networks approximately 40% cheaper than individual air source heat pumps |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Hemiko product offering
Product offeringCore offering
Hemiko funds, designs, builds, operates, and maintains low carbon district heat networks that distribute heat from local waste sources (data centres, rivers, industrial facilities) to residential, commercial, and public buildings. The company delivers end-to-end heat network services including design & build, operation & maintenance, ESCO (Energy Service Company) concessions, customer service/metering/billing, project funding, and consultancy. Heat is supplied to end customers under long-term (25-35 year) ESCO contracts governed by HeatTrust and local authorities.
Product overview
Hemiko is a heat network utility provider offering an integrated portfolio of services for district heating networks. The core offerings include Design & Build, Operation & Maintenance, Customer Service/Metering & Billing (via With Energy brand and Captus platform), ESCO Services, Funding, and Consultancy Services. Hemiko operates across multiple UK locations including Greenwich Peninsula, Clapham Park, Worthing, Westminster (SWAN), Waterloo & South Bank, Old Oak & Park Royal (OPEN), Tyseley, Crawley, and Lambeth/Wandsworth, with projects ranging from residential developments to large-scale city networks. The company was rebranded from Pinnacle Power in September 2023 following partnership with DIF Capital Partners, with £1bn investment committed for town and city-scale heat networks by 2030.
Differentiator
Problem solved
Functional benefit
Brands
- Captus: Proprietary metering and billing software platform operated by Hemiko for heat network customer management.
- Loka Energy
Products and services
- Design & Build
- Operation & Maintenance
- Customer Service, Metering & Billing
- ESCO Services
- Funding
- Consultancy Services
- Captus
- Heat Network Maintenance Technician Apprenticeship
Quantifiable outcome
- Reduces CO2 emissions by 22,000 tonnes annually (Waterloo & South Bank Phase 1) - equivalent to taking 10,000 cars off the road
- +5 more outcomes
Companies that use Hemiko
Customer profileNamed customers12 records
Segments6 records
Ideal customer profiles3 records
Hemiko technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Hemiko partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered minor and core.
- South Bank Employers' GroupminorCollaboration with South Bank Employers' Group to guide heat network development and support local initiatives in the cultural district. Collaborating on carbon literacy programmes.
- Birmingham City CouncilcoreHemiko is engaging with Birmingham City Council alongside West Midlands Combined Authority, Tyseley Energy Park, and Sustainability West Midlands to develop the Tyseley Heat Network.
- Tyseley Energy Park (TEP)minorPartnership to develop the Tyseley Heat Network as a clean heat hub anchoring the West Midlands as a national centre for decarbonisation.
- Old Oak and Park Royal Development Corporation (OPDC)coreHemiko selected as development partner for Old Oak and Park Royal Energy Network (OPEN). OPDC is the Mayor of London's development corporation. Hemiko will design, deliver, fund and operate the new low carbon heat network drawing waste heat from local data centres.
- Vantage Data CentrescoreVantage Data Centres is powering its London campuses with renewable energy and supplying surplus heat to the OPEN district heating network, showcasing how data centres can serve community heating needs.
- South & City College Birmingham (SCCB)coreSCCB is the first college in the UK to deliver the Heat Network Maintenance Technician Apprenticeship developed by Hemiko's Trailblazer Group. First intake expected April 2025.
- Institute for Apprenticeships and Technical Education (IfATE)coreIfATE approved the Heat Network Maintenance Technician Apprenticeship developed by Hemiko's industry-led Trailblazer Group. Working with employers to develop the qualification.
- Vital EnergicoreJoint venture (SWAN Partnership) between Hemiko and Vital Energi to develop, invest in, construct and operate new district heating infrastructure in Westminster. Vital Energi brings expertise in designing, building, operating and owning energy infrastructure.
- London Heritage QuartercoreKey partner in SWAN project supporting the network's growth. CEO Ruth Duston OBE involved in project leadership for delivering heat to landmark buildings.
- AECOMcoreKey partner working with DESNZ to commercialise the SWAN scheme and accelerate private investment. Supporting heat network growth in Westminster area.
- Worthing Borough CouncilcoreCouncil selected Hemiko to fund, deliver and operate the Worthing Heat Network as part of the council's Carbon Neutral Plan. First phase received £7m from DESNZ Heat Networks Investment Project.
Scale indicators15 records
Recent moves9 records
Expansion highlights8 records
Hemiko competitors and assessment
Company assessmentBroad incumbents
- SSE Heat Networks: SSE has historically operated and developed heat networks in the UK and has been an active seller/divestor of heat assets. It is comparable to Hemiko on heat network operation, ESCO concessions, and decarbonisation projects, but as part of a much larger UK utility group.
- Veolia UK (Veolia Energy & Utility Services): Veolia operates district heating networks (notably in London and Nottingham) and provides energy-from-waste and decentralised energy solutions to UK public sector clients. It is comparable to Hemiko in district heating operations and ESCO-style concessions, but as part of a much larger environmental services group.
- Equans UK & Ireland: Equans provides technical services including district heating network design, build, and O&M for UK local authorities and developers (and is already a Hemiko partner on OPEN at Central Middlesex Hospital). It is a broad facilities and energy services incumbent with comparable capabilities in heat networks.
- ENGIE UK: ENGIE operates one of the largest UK district heating networks (including the Birmingham district heating scheme) and offers end-to-end energy services to public and private sector clients. As a large multi-utility incumbent, it overlaps with Hemiko on heat network design, build, operate, and fund, but across a broader energy portfolio.
- E.ON UK (Heat Networks / Local Heat): E.ON UK operates district heating networks (e.g., in the Midlands and East Anglia) under its decentralised energy business, often supplying municipal and residential customers. It competes with Hemiko for UK heat network concessions and long-term ESCO contracts but as part of a large multi-utility group.
Emerging players
- 2degrees (UK District Heating Asset Manager): 2degrees is a specialist asset manager and operator focused on UK low-carbon district heating and cooling infrastructure. It is comparable to Hemiko as a focused, infrastructure-style heat network operator, though typically smaller and earlier-stage on individual assets.
- Kelda Group (Yorkshire Water / Energy): Kelda Group (parent of Yorkshire Water) has invested in low-carbon heat networks and waste-heat recovery from water and sewage networks in the UK. Its water-source and waste-heat-from-infrastructure approach mirrors Hemiko's strategy of tapping unconventional heat sources (rivers, sewers, data centres).
Direct peers
- Switch2 Energy: Switch2 Energy is a specialist UK heat network metering, billing, and customer service provider serving both Hemiko-style operators and housing developers. It is closely comparable to Hemiko's With Energy / Captus offering on metering and billing services, though narrower in scope (no network ownership).
- Vital Energi: Vital Energi is one of the UK's largest district heating and energy infrastructure providers, designing, building, owning, and operating heat networks for new developments, public sector, and mixed-use schemes. Hemiko and Vital Energi are direct competitors but also JV partners on the SWAN Westminster project, making them the closest comparable operator in scale and business model.
Regional players
- Copenhagen Energy (Hofor / Hovedstadsområdets Forsyningsselskab): Hofor is the municipally owned multi-utility operating one of the world's largest district heating networks in Copenhagen. Hemiko already operates a Copenhagen office, indicating ambitions in the Nordic market, and Hofor is a relevant regional comparable for city-scale, low-carbon district heating utility operations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Hemiko social profiles
Digital presenceHemiko compliance and trust
Trust signalCompliance2 records
Hemiko financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hemiko leadership team
Management profileNumber of profiles
Profiles3 records
Hemiko subsidiaries and ownership
Company hierarchySubsidiaries1 record
Hemiko funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hemiko M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hemiko
What does Hemiko do?
Hemiko funds, designs, builds, operates, and maintains low carbon district heat networks that distribute heat from local waste sources (data centres, rivers, industrial facilities) to residential, commercial, and public buildings. The company delivers end-to-end heat network services including design & build, operation & maintenance, ESCO (Energy Service Company) concessions, customer service/metering/billing, project funding, and consultancy. Heat is supplied to end customers under long-term (25-35 year) ESCO contracts governed by HeatTrust and local authorities.
Is Hemiko a public or private company?
Hemiko is a private company. It is classified as private equity controlled and is currently operating.
When was Hemiko founded?
Hemiko was founded in 2012. It employs 51 to 100 people.
Where is Hemiko based?
Hemiko is headquartered in Rockcliffe, United Kingdom, in the Europe region.
How does Hemiko make money?
Six revenue lines are on record. Heat Supply and ESCO Services are the primary driver. The others are design and Build Services, operation and Maintenance Services, metering and Billing Services, heat Network Funding and consultancy Services.
Who are Hemiko's main competitors?
Broad incumbents on record are SSE Heat Networks, Veolia UK (Veolia Energy & Utility Services), Equans UK & Ireland, ENGIE UK and E.ON UK (Heat Networks / Local Heat). Emerging players are 2degrees (UK District Heating Asset Manager) and Kelda Group (Yorkshire Water / Energy). Direct peers are Switch2 Energy and Vital Energi. Copenhagen Energy (Hofor / Hovedstadsområdets Forsyningsselskab) is listed as a regional player.
Does Hemiko have an API?
No public API is recorded for Hemiko.
What industry is Hemiko in?
Hemiko's product category is District Heating / District Energy Networks. Its primary akta.pro industry code is EUABAJAF, Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers), with a secondary code of EUAEAAAA, Thermal Power Plant EPC (Gas/Coal/Oil). Its NAICS code is 221330 and its SIC code is 4991.