Square One planning to double workforce
Dec 11 2007 by Iain Laing, The Journal
AN energy consultancy is growing rapidly after securing new financial backing.
Square One Utilities, a North-East based energy consultancy, has doubled its office space and is to implement a new IT system for utility invoice validation and dispute resolution purposes following a cash injection from NEL Fund Managers Ltd.
Helping a range of regional and national businesses with energy buying and utility management, Square One Utilities recently expanded its office space at the Quadrus Centre in Boldon and it plans to double its workforce to meet increasing customer demand.
Michael Harkus, managing director with Square One Utilities, said: “There is a real problem with billing errors within the utility sector and this new system will allow us to resolve these issues proactively rather than only reactively when they are highlighted by clients.
“The energy market is highly volatile and demand for our service has increased rapidly as a consequence. NEL recognised this and ultimately helped us to meet this demand with investment which has allowed us to expand at the required rate.
“On top of the financial aspect, NEL works hard to provide a personal service and to understand our business, and we see it as the ideal partner to take us beyond the regional and national stage, to international utility markets.
“The UK is leading Europe in regards to utility deregulation and as the continent follows our example over the next few years our service will be much needed across the channel, as well as here in the United Kingdom.”
Lindsey Grieves, portfolio executive at NEL, said: “Square One Utilities has a solid business plan for growth that includes the flexibility to take advantage of opportunities as and when they appear, and we were keen to help them implement their plan.
“We work hard to understand our investees’ businesses and the industries they work in so we can tailor our investments appropriately and offer them a service which goes beyond funding alone.”
