Member Article

Liverpool-based Extreme Low Energy secure £50k loan

Liverpool-based Extreme Low Energy has been awarded a £50k loan from the Start Up Loans Company.

The company was helped by Alan Woods of Wirral-based accountants, Woods Squared Accountants and the Wirral Chamber of Commerce.

The Merseyside company manufactures low-energy and low-carbon IT infrastructure.

Its patent-pending products use direct and stored power obtained from a range of renewable sources, allowing customers to operate IT equipment away from traditional electricity grids.

The company, which was founded in 2014 by Mark Buchanan and Peter Collin, is already working with a number of schools, colleges and universities in the UK and expects to sign its first contract in Africa in the next month.

Mark Buchanan, one of the founders of Extreme Low Energy, said: “We were introduced to Wirral Chamber of Commerce by Alan Woods who has a reputation for being proactive and good at sourcing funding to support the growth of exciting businesses.

“We were impressed by the diligence of Sara Davies and her team at the Chamber who put us through our paces, asking lots of questions about our business plan, experience, sector knowledge and growth potential.

“We then underwent further intensive due diligence by the Start Up Loans Company before hearing that we had been successful.

“I would recommend the process to any ambitious business.

“It allows you to test your business and provides external verification of your business plan. It is also very rewarding to know that other people believe in our ideas as much as we do.”

This was posted in Bdaily's Members' News section by Sophia Taha .