Solar power firm nears £3.5m mark after single year in business

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A Corby-based specialist in the design, installation and implementation of solar renewable power solutions is on track to grow its turnover to £3.5 million after receiving a six-figure funding boost.

Aten Global has already been commissioned to provide solar systems totalling 102 megawatts in the UK and overseas, generating more than £1 million in sales.

The firm, which was only established last year, is now confident of reaching its turnover target thanks to a working capital injection of £240,000 from Reward Finance Group.

The company is currently working on a 45-megawatt floating solar system for the National Water Commission in Jamaica. It will use the cash boost to finalise existing contracts and develop new tender opportunities in the UK, Germany, Italy, the Netherlands, Ukraine and Saudi Arabia.

Finance director 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 complimentary skills to take the business forward.

“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.”

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