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Press Release 21-11-2011 - Dragons' Deborah and Theo commit to solar industry
Dragons' Den investors Deborah Meaden and Theo Paphitis have today shown their commitment to the distressed British solar sector by signing a deal with Yorkshire-based Ploughcroft Solar, one of the UK's leading solar PV panel installers.
With a solar rally and lobby of Parliament planned for Tuesday 22 November, the solar industry and green organisations are up in arms over the government’s plans to halve the all important Feed-in-Tariff (FIT) which has encouraged tens of thousands of British homeowners to turn to solar.
Demonstrating that they believe there is still a bright future for solar in this country, Deborah and Theo have invested in Ploughcroft Solar as a result of MD Chris Hopkins’ pitch on the Dragons’ Den programme this summer.
Said Deborah: "In our lifetime, a switch towards renewable energy is not an option, it has to happen. Consumers need help to make the right choices as there are many conflicting messages being issued to the public. A review of the FIT is the right thing to do, although the scope, timing and conflicting messages have not been helpful."
"Although the government’s proposals to reduce the FIT from 43p/KWh to 21p/KWh are drastic, we believe that even if this new tariff is introduced solar is still an attractive option to homeowners. As energy bills continue to rise consumers will be looking for ways of lowering their energy costs and going green. With the 21p/KWh FIT solar photovoltaic (PV) panel homeowners will get a sensible return on their investment, as well as seeing lower electricity bills and helping the environment."
"Theo and I are both 100% committed to the growth and stability of Ploughcroft, which is leading by example within the solar industry. The government’s proposals haven’t scared us off and should not discourage the British public from investing in solar and other renewable energies. Our job is to make sure people still understand there is a good reason to commit to renewable energy, both financially and ethically. Once the government’s final decision on the new FIT has been made the solid, forward thinking renewable industry can continue to grow."
Chris Hopkins, who has been at the forefront of the solar industry for six years and is also a member of the newly formed Green Construction Board for the Department of Business, Innovation & Skills added: “Since the government made its FIT reduction announcement on 31 October we have seen a 50% increase in enquiries compared with the previous month. We have already secured sales on systems that we will be installing in January and February 2012 on the new tariff. This indicates that homeowners remain keen to reduce their electricity bills whilst doing their bit to help the environment.”
The expertise of Deborah Meaden and Theo Paphitis will help Ploughcroft Solar expand into new areas of renewable energy throughout 2012, and support the company’s mission to become the name for renewable energy for homeowners across Britain.
Ploughcroft MD Chris Hopkins recently appeared on Dragons Den successfully securing £120,000 of investment. The two lucky Dragons to be involved with Ploughcroft are Deborah Meaden and Theo Paphitis. The final choice of Dragons was of top importance to Chris: “Apart from their excellent reputation in the world of business, Deborah and Theo are trusted household names.
This was very important to me, as I want Ploughcroft to grow to become the household name of choice for solar and renewable energy installations. We’re one of the leading solar installers for the UK and I want our name to be synonymous with solar, just like big brand names are with other household industries.”
“Everyone at Ploughcroft is very excited to be involved with two excellent business minds that are also household names like Deborah and Theo”
Chris is excited at the prospect of working with Deborah and Theo to drive his business forward and expand across the UK.
“It is fantastic to have had the opportunity to meet such successful entrepreneurs. Through their backing and bank of contacts both in the UK and across the globe, we’re looking forward to achieving major success with Ploughcroft in the renewable energy market.”
In a statement from Deborah, she says...
"I had already identified the renewable energy market as an exciting place to do business, not least because it combines doing the right thing with great returns.
As with all rapidly growing markets, there are good and bad operators out there, but Chris clearly demonstrated that he was deeply knowledgeable and an industry leader, not just “jumping on the bandwagon”.
He was also obviously someone who gets stuff done and cares about his customers...seemed like the perfect fit and so I went for it!"
Click here to see Ploughcroft's Profile on Deborah Meaden's website
January 6 2012 - Theo Paphitis Biography
Theo Paphitis is one of the UK's most high profile businessmen. His empire spans retail, property, finance and consumer goods.
The famous entrepreneur was born in Cyprus. His family emigrated to Britain in the 1960s and Theo showed his business skills at the tender age of 15 when he was put in charge of his North London school’s tuck shop, achieving notable success.
His formal working career started as an assistant to the tea boy with a Lloyds of London broker before moving into retail at the age of 18. He then moved into property and corporate finance, setting up his own company aged just 23.
He was Chairman of Millwall FC for eight years, taking the club out of administration and into the Championship and to the FA Cup Final v Manchester United and into Europe.
He has also revived the fortunes of notable retail brands such as La Senza Lingerie (UK), Contessa Lingerie, Ryman, Partners the Stationers and Stationery Box. He sold his interest in the La Senza UK business and Contessa in 2006.
In 2008, he combined the stationery businesses to launch a new chain, Ryman Stationery (www.ryman.co.uk) where he is now Chairman.
Another high profile venture is Red Letter Days, the company he salvaged out of administration which he now co-owns.
Theo's latest high profile retail activity is the launch of a highly innovative new lingerie business this spring called Boux Avenue. There are eight stores in shopping centres throughout the UK, an interactive website (www.bouxavenue.com) and more stores to follow this year.
Theo is probably best known for his star role in Dragons’ Den. The tenth series is about to start filming. In addition this year he presented a seven part BBC TWO TV series called Britain’s Next Big Thing, where he went behind closed doors at some of the biggest names in UK retail to expose the fascinating world of buying. He also presented Theo's Adventure Capitalists that examined new markets for British products and services.
Theo's life story - Enter the Dragon - is published by Orion Books in paperback. It gives an insight into the thoughts and aspirations of one of the UK's most popular entrepreneurs.
Ryman stationery sponsors the Isthmian Football League, known as the Ryman League.
www.theopaphitis.com Twitter: @theopaphitis
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