Group subsidiary Fulcrum Pipelines Limited (FPL) has broken the 50,000-gas asset barrier reaching, as of the end of October 2019, 51,110 live gas supply points.
This has been achieved after a 26 percent growth in supply points since the start of Fulcrum’s current financial year in April 2019.
The Group’s ability to own and maintain the utility assets it designs and installs through FPL’s independent Gas Transporter (iGT) licence is further bolstered through assets acquired from other infrastructure installers.
The expansion of its portfolio of assets will further strengthen the revenues FPL generates for the Fulcrum Group from long-term reoccurring income, which in the financial year ending 30 March 2018 stood at £3 million.
These revenues are also supported by Fulcrum Group’s electricity asset ownership strategy, which began in 2018 after it became an Independent Distribution Network Operator (iDNO), which it enables to design, install, operate and maintain local electricity networks.
As of the end of October 2019, Group subsidiary Fulcrum Electrical Assets Ltd had developed a portfolio of 3,000 electricity supply points, which will grow further following its successful independent audit by Gemserv to assess its initial progress as an iDNO.
Carly Gilchrist, Asset Director at Fulcrum, said: “This is a significant milestone for the business, strengthening our position in the multi-utility infrastructure market and providing sustainable revenue streams for the group.
“We have set ourselves apart in the market, becoming the asset partner of choice for utility contractors as a result of an agile and customer-centric approach and this has been fundamental to the growth of our asset base
“Underpinned by meeting exceptional standards of safety, FPL has developed an effective partnership approach to working with asset partners and stakeholders, which creates a highly-responsive service based on technical knowledge and experience. This strategy remains central to our operations as we continue to grow our asset portfolio.”