Energy specialist tops £10m revenue target

BUSINESS gas and electricity supplier D-ENERGi has exceeded its sales target of £10m and is set to recruit up to 100 employees.

This follows the securing a seven-figure finance package from HSBC.

The energy supplier start-up, which was founded by two Manchester brothers Shak and Zico Ahmed in 2002, secured a total of £1.5m in funding from the bank to grow their business into a medium-sized enterprise.

As part of its growth strategy, D-ENERGi plans to venture into new markets and diversify its offering by operating in other sectors such as water and renewable energy.

D-ENERGi is also exploring the possibility of purchasing gas and power higher up the supply chain with generators and traders, to ensure better deals for its customers.

Zico Ahmed, Director, D-ENERGi, said: “Two years ago we set ourselves an ambitious sales target of £10m and today we have exceeded it, putting us in a highly competitive position within the business energy market.

“We are simply not a small business anymore, and this would not have been possible without HSBC’s continuous support since 2014.

“This exciting news comes as we mark our 15th anniversary year, making us more determined than ever to further grow the business in the future.”

Jason Trigg, HSBC’s area director for mid-market enterprise in Manchester, said: “From its inception, D-ENERGi has proved to be a highly successful company.

“It is certainly the kind of ambitious organisation we would actively support to take their business to the next level.

“We look forward to working with D-ENERGi in the years to come as it continues to diversify and achieve its business objectives.”

Currently a finalist for ‘Supplier of the Year’ at the Energy Awards 2016, D-ENERGi has 50 employees and a turnover of just under £11m.
 
The deal was led by Graeme Faraday, relationship director, mid-market enterprise, HSBC Manchester.