Leeds financial group expands worldwide reach of renewable energy specialist
Aten Global is extending its global reach following a working capital injection of £240k from the Leeds office of Reward Finance Group.
The Midlands company, which was established just over a year ago and specialises in design, installation and implementation of solar renewable power solutions, has made over £1m in sales, with its latest projects being completed in Saudi Arabia and Jamaica.
It is on target to grow its turnover to £3.5m this year, having been commissioned to provide solar systems totalling 102 megawatts in the UK and overseas.
The largest of these contracts is for a 45-megawatt floating solar system for the National Water Commission in Jamaica.
Once complete, the system could have a dual benefit of generating energy, as well as reducing the evaporation of water in its reservoirs.
The £240k capital injection from Reward Finance Group will enable Aten Global to finalise existing contracts and develop new tender opportunities in UK, Germany, Italy, Netherlands, Ukraine and Saudi Arabia.
The finance director of Aten Global, Nana Amonoo, said: “The growth of the business over the last 12 months has been phenomenal.
“However, to progress the growing number of tenders, and complete the existing projects, requires a significant amount of working capital, especially the recent large-scale Jamaican contract.
“We are therefore thankful that Reward Finance Group recognised the success we have achieved to date, and the potential for future growth.
“It quickly provided us with the necessary funds without making us ‘jump through hoops’, thereby enabling us to seize the opportunities we continue to generate.”
Alan Sanderson, of Reward Finance Group, added: “I was extremely impressed with Aten Global’s directors, Keenan Gratrick and Nana Amonoo.
“As well as providing us with an excellent strategic business plan, the two have complementary skills to take the business forward.”
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