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SME Capital backs award winning renewables pioneers Joju Solar with flexible funding solution

SME Capital is delighted to be supporting renewables industry award winning Joju Limited with a recent funding package that supports their growth plans for innovative technologies for the Green Economy.

Founded in 2006 by entrepreneur Joe Michaels and Oxford University renewables lecturer Chris Jardine, Joju have been pioneers in the renewables industry. Since formation, the business has been supporting the drive for solar on social housing, building the very first community-funded solar project in the UK and installing some of the largest community projects.

More recently Joju have adapted to the changing UK market and are now market leaders in battery storage, developing innovative smart grid projects. They are the go-to installer of electric vehicle chargers for councils, businesses, and homeowners throughout the UK.

Recognising the significant growth in the business, strong external market dynamics and working closely with the Joju team, SME Capital have structured a longer-term funding solution that will support managements future plans.

Joju Solar - SME Capital

Co-Founder, Joe Michaels, commented, "With electricity prices rising, demand for solar panels, batteries and EV charge points are at all-time highs. This is driving very rapid growth within Joju, for which increased working capital is required to meet the greater number of monthly installations. The funding from SME Capital helps us deliver ever-increasing volumes of low carbon technologies to our customers”

SME Capital Co-Head of Origination, Kenny Hughes, said, "Joju has established a strong market position and is very well placed to build on its expertise in design and installation of bespoke solutions in the drive to green and low carbon energy. Management are passionate about playing a real part in tackling climate change and SME Capital are delighted to support the growth plans with a flexible funding package. “

Rick Sealy, Katrina Groark and Rebecca Lakhani of Gateley Legal provided legal advice to SME Capital.

If you would like to discuss refinancing and growth capital funding in more detail or our wider funding capabilities do get in touch.

About SME Capital

SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.

August 2022

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