UK energy firm 3sun bags $16.7M investment from Business Growth Fund

March 3
1:25 PM 2014

British energy firm 3Sun Group has pocketed $16.7 million (£10 million) in funding from the Business Growth Fund (BGF). The company will use the new capital to expand across the UK and Europe, according to Bloomberg.

3sun is planning to build a new office to accommodate the additional 250 staff that it will be hiring by March 2017, the report added.

ReNews cited managing director Graham Hacon saying: "This significant sum will prove highly beneficial for 3sun Group in the long run, providing us with the additional capital required to accelerate our capabilities and increase our global presence. We are outgrowing our current premises and expect 50 more employees by March 2015 increasing an extra 200 by March 2017."

3Sun is a company caters to the oil, gas and wind industry companies. It supplies equipment for them and takes charge of wind turbine maintenance. At present, the company has 240 employees across Great Yarmouth, Aberdeen, Norway, Germany, and Denmark, ReNews reported.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.


Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics