SD Wind Energy Set to Generate Growth After Securing £50K Loan
19 Aug 2019
SD Wind Energy is a global market leader for small wind turbines and hybrid energy systems based in Stewarton East Ayrshire.
Installing over 5000 turbines across more than 70 countries to date, the company’s 15 employees design, manufacture and supply small wind turbines across the globe.
Formally known as Kingspan Wind, a subsidiary of the Kingspan Group in Ireland, the company was acquired by Japanese businessman Toshiro Urushitani in early 2018. Since then, the business has undertook a strategic review of its market opportunities and with their sights now set firmly on expansion, Toshiro and the team at SD Wind Energy plan to grow the business over the next 3 years, with estimated sales expected to exceed £3.7 million.
Requiring funds to support the business through this growth period, the team at SD Wind Energy submitted their loan application to Business Loans Scotland (BLS) and were successful in securing match funding totalling £50,000.
Fully funded through the Scottish Growth Scheme and the European Regional Development Fund (EDF), BLS offer loans from £25,000 to £100,000 for new and growing Scottish SMEs and aim to ensure that good, commercially viable proposals don't fail from a lack of access to finance.
"Since SD acquired this business from Kingspan last year we have been investing heavily in the business and we have experienced fantastic growth in revenues, in employees and global activity. We expect to see that accelerate” said Elizabeth McFarlane, Head of Finance and Corporate Services at SD Wind Energy.
"For me as CFO this brings a new set of “good” problems with regard to working capital and cash flow. The support from Business Loans Scotland is a great help, I found the BLS team easy to deal with and very supportive of our needs and our expansion plans. We will keep hiring good high energy people to fuel this growth and BLS is a big help in making that happen"
Andrew Dickson, Fund Manager of Business Loans Scotland added:
“I am delighted that BLS has supported SD Wind Energy with loan funding which has allowed the business to raise essential working capital. We are passionate about supporting small and medium sized businesses across Scotland and I look forward to watching SD Wind Energy flourish during their growth phase over the next 3 years.”