Tuesday, January 14, 2014

News: EMSc (UK) Ltd backed to meet demand


EMSc (UK) Ltd, green tech manufacturer of the innovative Star range of energy saving products, has secured £3m of additional funding as it eyes up further expansion and aims to become a £60m company in the next five years.

The innovative firm expanded from premises in Rotherham last year to a 23,620 sq ft unit in Sheffield comprising the head office, manufacturing space and R&D facilities.

The Powerstar system is the only voltage optimisation system wholly designed and manufactured in the UK and works by reducing the the voltage supplied by the National Grid. It can actively reduce electrical energy consumption by an average of 12-15% of consumed electricity.

EMSc employs over 100 people and has manufactured more than 4,000 systems installed in 15 countries. The company outgrew its premises at Templeborough and relocated to St Paul's Developments' Smithy Wood Business Park, increasing manufacturing capacity by 500%. Sister company, VO4HOME targets the domestic market and still has its head office in Rotherham.

It is hoped that the new funding from RBS will help enable the company to capitalise on significant demand from both domestic and international markets.

The demand was shown recently when a £50m tranche of funding, made available to private and public sector companies seeking to install energy saving solutions in the last quarter of 2013, was completely allocated. EMSc (UK) Ltd received over 1,300 applications for the funding.

Alex Mardapittas, CEO at EMSc (pictured), said: "The global community has ambitious strategies to reduce reliance on fossil fuels and, being the only company in the world with a patent on a voltage optimisation (VO) product, our technology can significantly help in achieving these goals.  These funds will enable us to grow in our existing UK and overseas markets and target other markets such as the USA and China."

Stuart Watson, Director at RBS, added: "The RBS Divested team was delighted to support this business. It is always good to see a local manufacturer with a product that is both innovative & energy saving competing successfully abroad. Our loan structure reflected the forecast cash generation of the expansion plans rather than rely on a more traditional security based approach."

BDO, which has offices in Leeds and Sheffield, acted on behalf of the shareholders of EMSc providing fundraising support, detailed business planning and financial modelling.

Powerstar website

Images: EMSc (UK) Ltd


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