Energy tech firm set for £44m revenue
A fast-growing North East-based energy firm is predicting 50 per cent revenue growth to £44m in 2019 thanks to its pioneering technology.
Northern Gas and Power (NGP) uses its technology to help businesses, large and small, reduce energy usage and costs.
NGP’s real-time data allows customers to manage energy more efficiently as the UK heads towards its target of being a net zero carbon emissions economy by 2050.
The consultancy firm was founded in 2012 by the managing director Fokhrul Islam but by 2016/17, the business employed 75 people, growing to 228 the following year and forecast for 550 globally by the end of 2019.
It is one of the North East’s fastest growing companies, with revenues reaching £29m in 2018 and predicted to rise to £44m by the end of this year.
Its MD said technology underpins the future growth ambitions of the business.
He said: “From talking to our customers, we understand there’s a real demand for change. But our industry needs not only a change of attitude; it also needs a change of technology
“There is the opportunity to totally transform how businesses use and manage energy, as we move towards a sustainable, low-carbon economy.
“People want change - businesses tell us they want to become more eco-friendly, but technology has limited their ability. We know there is a real demand for change in people’s behaviours and we need to drive that through technology.”
Northern Gas and Power is part of Global Procurement Group (GPG).