Crondall Energy, the UK-headquartered offshore energy consultancy, has secured a £1m loan from the alternative lender BOOST&Co. The funding will enable the firm to maintain its global reach supporting operators and developers to transform the offshore energy industry and work towards the net zero future of energy.
The group specialises in floating and subsea facilities, providing strategic, commercial and technical services for offshore energy projects. These services are provided by a multidisciplinary team with a wealth of expertise in the delivery and operation of offshore projects. The business provides technical expertise, advisory and training on a global scale, with offices in the UK, US and Singapore.
The business will use the loan to support its growth ambitions by supporting ongoing and new initiatives in the energy transition sector, widening its geographic presence and strengthening its client base.
BOOST&Co has chosen to work with Crondall Energy because of its reputable position in the offshore industry and the wealth of experience across its team. The business is playing a key role in the future of sustainable energy and the funding will help the group to support more clients as demand for its services increases.
BOOST&Co is a provider of growth capital for innovative, fast-growing UK SMEs. The independent asset manager offers loans ranging from £1m to £10m, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). It has funded more than £500m across more than 130 deals to date and provided close to £200m under the government’s CBILS initiative to support SMEs during Covid-19.
Martin King, Principal at BOOST&Co, says: “Crondall Energy is a global leader in its field, and this additional capital will provide the firm with the backing to strengthen the existing multidisciplinary team, as the industry pivots to a net zero future.”
Duncan Peace, the Group Managing Director at Crondall Energy, says: “Following a consistently strong performance over the past few years, the investment from BOOST&Co will enable us to deliver new initiatives in the energy transition sector, broaden the range of services that we can provide to our clients and establish new long-term partnerships to deliver tailored solutions for our global clientele.
“The loan means we can help even more companies to negotiate the energy transition, as we grow our services and expand our team.”