Expanding global reach

Working capital injection energises growth

Corby-based Aten Global specialises in the design, installation and implementation of innovative solar renewable power solutions.

Established in 2018, it generated more than £1m in sales in its first year, with projects completed in Saudi Arabia and Jamaica. In the next 12 months turnover was projected to grow to £3.5m, having been commissioned to provide solar systems totalling 102 megawatts in the UK and overseas.

The largest of the contracts was for a 45-megawatt floating solar system for the National Water Commission in Jamaica. The system has the dual benefit of generating energy, as well as significantly reducing the evaporation of water in its reservoirs.

To maintain its impressive growth across the world, Aten Global needed a £240,000 Business Finance capital injection to enable it to finalise existing contracts and develop new tender opportunities in UK, Germany, Italy, Netherlands, Ukraine and Saudi Arabia.

Reward Finance Group’s Senior Relationship Manager, Alan Sanderson, met with the company’s directors, Keenan Gratrick and Nana Amonoo, and was impressed with the strategic business plan and the complimentary skills the two of them possessed to take the business forward.

Keenan is ex armed forces with in-depth experience of overseas markets having operated around the world for 23 years, the last 12 of which he was involved in construction and, more latterly, renewable energy.

Nana, on the other hand is a fully qualified chartered accountant who keeps a close control of the finances.

Alan recognised that Aten Global is well-placed to tap into the renewable energy market, which is very high on the agenda across the world, and had no hesitation in arranging the funds to enable the company to take advantage of the opportunities being presented to them.

Speaking about the funding, Nana said,

“The growth of the business over the last 12 months has been phenomenal,” he said. “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.”