Aten Global, a specialist in the design, installation and implementation of innovative solar renewable power solutions, is extending its global reach following a working capital injection from Reward Finance Group.
The company, which was established just over a year ago, has already generated more than £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 will have the dual benefit of generating energy, as well as significantly reducing the evaporation of water in its reservoirs.
The £240,000 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.
Finance director of Aten Global, Nana Amonoo, is looking forward to taking the company on to the next level.
“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.”
Alan Sanderson, of Reward Finance Group, is looking forward to working closely with the company.
“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 complimentary skills to take the business forward.
“Keenan, who is ex armed forces, has in-depth experience of overseas markets having operated around the world for 23 years. For the last 12 years he has been involved in construction and, more latterly, renewable energy. Nana, on the other hand is a fully qualified chartered accountant who will be keeping a close control of the finances.
“Aten Global is well placed to tap into the renewable energy market, which is very high on the agenda across the world, and we are delighted to provide them with the funds to enable them to take advantage of the opportunities being presented to them.”
Photograph: Aten Global (L to R) Les Pyle, Nana Amonoo and CEO Keenan Gratrick
NOTES TO EDITORS:
Reward Finance Group
Reward Finance Group provides asset-backed short to medium term lending solutions to SME’s.
With offices in the financial districts of Leeds and Manchester, Reward Finance Group lends from £50k to £3m across every sector in the market from start-ups to established businesses.
Reward Finance Group specialises in two funding areas:
Business Finance – Asset secured short and medium-term lending – Between £50k and £3m
Invoice Finance Plus – More than traditional invoice finance – Between £50k and £3m
Mettle Investments Ltd, the Johannesburg Stock Exchange listed company, is an investment holding company and is the main shareholder of Reward Finance Group.
For more information visit: www.rewardfinancegroup.com