Smart energy provider secures £400k equity investment from two individuals
The funding follows a difficult financial year and will support ongoing turnaround efforts.
The company provides bespoke smart energy metering, monitoring and control systems for house builders and utility companies across the United Kingdom.
A UK smart energy provider has secured £400k in equity financing from two individual investors to ease liquidity pressures and support its turnaround process following a challenging financial period.
Despite achieving record orders and revenues, the business was barely breaking even due to several one-off events. The majority owner and chief executive agreed to bring in new management and hand over financial functions to support the restructuring.
The capital injection, alongside support from major creditors, has resolved liquidity constraints and enabled normal trading operations to resume.
Use of funds
- 01Scale operations
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About the company
Smart Energy Provider
Provides bespoke smart energy metering, monitoring and control systems across the UK.