February 7, 2020 Sophie Mullins
Amber receives £1m loan to support growth
We have received a boost to its working capital in the form of a long-term, unsecured loan of £1m.
Formed in 2009, we have grown rapidly by providing a transparent consultancy service for its clients, helping them to save time, money and CO₂ through increased energy efficiency. The eight-year loan, provided by BNP Paribas via Caple and Shaw & Co, will allow the business to focus single-mindedly on pursuing its ambitious growth plans.
Nick Proctor, founder and CEO of Amber, said: “This long-term, unsecured loan demonstrates the strength of our business plan and is an endorsement of the vision that guides the direction that we are travelling in.
“We are committed to addressing what we call the ‘Utilities Trilemma’ by balancing the financial, operational and environmental goals of our customers. Our focus on this has seen us win a diverse range of clients from multiple sectors, resulting in us more than doubling our contracted sales compared to the same period last year. Supporting our high-speed of growth while maintaining market-leading client retention levels will be our clear focus in the near-term.
Proctor continued: “With this capital injection we will also invest in the areas of the business that have and will continue to set us apart from the competition, particularly our proprietary technology and data services. These capabilities, coupled with our deep sector expertise, will help cement our position as a utilitech partner to our clients.
“While we pursue our exciting plans we will stay true to our founding principle of bringing unprecedented levels of transparency to our clients. It’s a regrettable fact that trust still gets abused in the commercial utilities sector. Clients are treated unfairly, and efforts to make a positive environmental impact are slow and disjointed. We believe that, by solving the Utilities Trilemma, we can save customers time, money and CO₂ and, moreover, do so in an open and honest way.”