DAGEM Power, the Cannock based engineering specialist, is using tailored invoice finance from eCapital to underpin its expansion as demand rises for expertise in large scale green energy projects.
The company provides technical, testing and consultancy services across the electrical transmission and generation sector, working on schemes including Hinkley Point C, the Seagreen Offshore Wind Farm and London Power Tunnels 2.
Its proprietary Commissioning Management System, developed using Microsoft O365 technologies, is designed to offer clients transparent and detailed forecasting on project costs.
DAGEM Power has set out a growth plan centred on recruitment, training and retaining specialist engineering talent. That strategy requires significant working capital to support both ongoing project delivery and the continued expansion of its workforce.
The business is now using invoice finance from eCapital to release cash tied up in unpaid invoices, enabling it to invest directly into training programmes and new staff long before payment is received from clients.
Instead of waiting more than 45 days for invoice settlement – a common lag within the sector – funds can be accessed as soon as invoices are issued.
STRATEGIC INVESTMENT
Darren Edmunds, business manager at DAGEM Power, said: “Our partnership with eCapital has been crucial to providing us with the confidence to continue to invest in our business and align with the ambitious long-term goals of the sector.”
He added: “eCapital has provided clear communication, tailored support and a deep understanding of our business model.
“Facilitating more than just financial support, but the stability to continue to drive innovation, nurture talent and make our mark in the UK’s green energy transition.”
James Cresswell, regional managing director at eCapital, added: “DAGEM Power operates in a highly technical field, providing safe, compliant and advanced solutions, to tackle the UK’s next stage of sustainable infrastructure.
“Over the last few years we have seen DAGEM Power build out its capabilities and nurture the next generation of engineers.”
He concluded: “We look forward to continuing our relationship managing DAGEM Power’s cashflow to further facilitate its growth well into the future.”
