What we do

Electricity grids for the 21st century

Powersense had the technology and the orders but lacked the liquidity. With a working capital guarantee from EKF the company obtained the operating capital to increase the sale of supervision and control systems for power companies worldwide.
What
Control systems for electricity networks and Smart Grids
How much
Frame work agreements worth more than DKK 1 billion the next few years
EKF's role
EKF offers a guarantee which covers part of Powersense´s operating credit with the bank which is worth DKK 15 million.
EKF product
Working Capital Guarantee
When
2011-2013
  • Quote

    The agreement with EKF means that we expect to bring in four to six new customers already during the first year where we previously only dared to hope for one or two

    Brian Sørensen, CEO, Powersense
    ​The company Powersense develops advanced supervision and control systems which help power companies worldwide to optimise their electricity network.

    The company´s attractive technology has secured Powersense contracts and framework agreements worth more than DKK 1 billion with power companies in among others, Australia, Germany, Holland and China. The orders will be delivered during the next few years.

    In order to afford to produce the orders and carry out the pilot programmes and test installations for new customers Powersense needed more liquidity. A typical pilot project in the world of Powersense can easily run up to six months and cost half a million DKK or more which draws heavily on the operating credit.
     
    However, all the efforts that the company had put into product development meant a deficit for Powersense in 2008, 2009 and 2010. Their bank, Nordea, therefore gladly welcomed a solution where the risk could be shared before they could increase the existing credit.
  • ​EKF contacted Powersense in autumn 2010, because it was considered a relevant company. Director Brian Sørensen instantly recognised the opportunity and set up a meeting with EKF’s Climate department.

    EKF estimated that in spite of the company´s modest results in the past few years, Powersense was likely to attract substantial export transactions in the next few years. EKF therefore suggested that we provide a guarantee to cover an increased operating credit. The increased credit would allow Powersense to pay its sub-suppliers and to implement the test programmes for new customers.
    ​Brian Sørensen could now return to the bank with the commitment from EKF and in view of this extra security the bank was now willing to increase the credit.

    Business counsellor Leon Rømer from Nordea says, ”We have enjoyed the partnership with Powersense for years and with this extra security from EKF we have now found a future proof and permanent solution. The working capital guarantee was the final piece which made everything come together.”
  • ​EKF approved a working capital guarantee for Powersense in early summer 2011 which secured the company a new operating credit in Nordea worth up to DKK 15 million.
    The framework is now in place for Powersense to both deliver the orders entered with the power companies and to begin to focus more specifically on winning new customers.
    ​”When we lacked liquidity, we were forced to turn down new orders. Now we can seriously fire up our growth ambitions,” says Brian Sørensen, Director of Powersense.

    ”The agreement with EKF means that we can expect to bring in four to six new customers already during the first year where we previously only dared to hope for one or two.”
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