INTELLIGENT BRANDS // Green Technology
Severn Drives & Energy opens new US clean energy facility
New manufacturing facility is enabling the company to strengthen its foothold in the US market and expand internationally .
Post investment , the new manufacturing facility is enabling the company to strengthen its foothold in the US market and expand internationally through the supply , manufacture and maintenance of global energy storage systems .
Severn Drives & Energy ( SDE ), a UK-based clean-energy engineering company , is poised for significant international growth after establishing new operations in the US .
SDE has also been bolstered by the appointment of Jon Addis to its Board as Non-Executive Chairman via an introduction from BGF ’ s Talent Network .
Based in New Berlin , Wisconsin , the new 30,000 sq ft manufacturing facility will enable the business to meet rising customer demand for its products and services and to boost future sustainable growth .
Addis is an experienced Chair , private equity advisor , CFO and investor , and was formerly Group CFO at UK Power Reserve and Regional Head at LDC & Royal Bank Private Equity .
SDE expects to triple its US workforce over the next two to three years and is targeting an increase in turnover from £ 10m to £ 50m
The new base comes one year after SDE secured significant funding from BGF , one of the largest and most experienced growth capital investors in the UK and Ireland , to support its ambitious growth plans .
Jonathan Jones , CEO , Severn Drives & Energy , said : “ We ’ re excited to be moving forward with our plans to strengthen our standing in the United States and accelerate the company ’ s evolution into additional international markets . BGF has played a key role in getting us to this point . We were seeking an investment partner that would have a real impact while sharing our values and BGF ticked all the boxes .
“ The addition of Jon Addis to the team is also a huge endorsement in the potential of our business . He shares in our vision and we look forward to working alongside Jon and the BGF team to power our ambitious growth plans .”
Alex Garfitt , investor at BGF , said : “ Investment in the new US base has seen the company move from making parts to manufacturing whole systems to meet the complex technological challenges facing the sector .
“ Severn ’ s prospects for further growth are outstanding and we are confident of continuing to build on our strong track record of working with businesses to help them scale internationally .
“ Thanks to Jonathan ’ s inspirational leadership , multi-million-pound BGF investment and Jon Addis ’ experience as non-executive director , Severn Drives & Energy is emerging as a dynamic global-facing enterprise and outstanding UK business success story .”
Jon Addis , Non-Executive Chairman of Severn Drives & Energy , said : “ SDE is a dynamic company supporting the decarbonisation of the power sector globally . I look forward to working alongside Jonathan and the BGF team to support the business as it reaches its vast potential .” p
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