Energy Management Systems, the Sheffield-based energy saving equipment manufacturer, is targeting a five-fold increase in turnover after securing a further £3 million of additional funding.
The company, also known as EMSc, is the creator of the Powerstar range of voltage optimisation (VO) systems, which has been named by NHS researchers as one of the top two energy saving technologies, enabling organisations to save up to a fifth of energy costs.
EMSc employs more than 100 people and has more than 4,000 of its VO systems installed in 15 countries.
Last year it increased its manufacturing capacity by 500 per cent, after moving into a purpose-built headquarters at Smithywood Business Park and was named UKTI Yorkshire and Humber Exporter of the Year.
With the new funding in place the company is now capitalising on significant demand from both domestic and international markets.
EMSc secured the funding from RBS with the help of the corporate finance team at accountancy and business advisory firm BDO, whose mergers and acquisitions partner, Jason Whitworth led the team, with support from senior manager Mike Clarke.
Stuart Watson from RBS’s corporate transactions team and the bank’s Sheffield-based director Darren Marshall headed the bank’s team and Mark Pownall at Baker Tilly provided due diligence advice.
EMSc founder and chief executive Alex Mardapittas said: “The global community has ambitious strategies to reduce reliance on fossil fuels.
“Being the only company in the world with a patent on a voltage optimisation 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.”
Jason Whitworth, from BDO, said: “EMSc demonstrates that the “Made in Sheffield” stamp is still synonymous with quality and cutting edge design. We look forward to working with the management team as part of its ongoing growth strategy.”