A Cheltenham-based solar energy storage firm has received £4m in funding to help support its growth plans. Puredrive Energy secured the lending facility from commercial financing business Cynergy Business Finance.
Puredrive Energy designs, develops, builds and distributes solar energy battery storage products to residential and commercial customers. The business, which manufactures its products in the UK and distributes internationally, has developed tech that aims to help consumers increase renewable energy consumption by up to 85%.
The company said the cash injection would help support its fast-growing order book, including bringing on board a number of high-profile international customers in the next year.
Mark Millar, chief executive of Puredrive Energy, said: “Working with Cynergy Business Finance has been a breath of fresh air. We could speak directly with decision makers and they understood our need to be flexible and to take both our needs and the needs of the customers into account."
Maxine Hennessy, corporate sales director of Cynergy Business Finance, added: “With the renewable energy sector continuing to grow, I am delighted we’re partnering with such a dynamic, technology-led and environmentally focused business that is working to build a more sustainable energy sector. I wish the Puredrive team every success for the future.”
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