British Gas owner invests in new boiler technology

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The owner of British Gas has announced plans to invest in a company developing new energy efficient boiler technology.

Under the new agreement, Centrica is buying shares in Ceres Power and is planning to help the firm in its manufacture of new household boilers which can cut carbon emissions by 50 per cent.

In addition, British Gas is to provide funding to the company to help in its preparations for the launch of its latest products.

Gearoid Lane, the director of British Gas New Energy, said that the technology could play a major role in helping the government hit carbon emission targets.

"If the government's target to reduce CO2 emissions is to be met, households and property developers must look at ways of reducing emissions and this technology will play an important part in doing this," he explained.

British Gas recently launched a new initiative to research the best ways in which UK households can reduce their emissions, including the use of insulation and energy efficient light bulbs.

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