Elstat secures £3m Barclays loan

Elstat, the global refrigeration services company, has secured a £3m loan from Barclays to support the launch of a new Internet-of-Things product.

The company designed and patented the world’s first learning energy management systems and solutions, which are fitted to more than six million coolers in 160 countries.

The support from Barclays will help drive sales of Nexo globally with new and existing clients. The loan is financed through a £200m debt fund focused on high growth companies. It was facilitated by the Barclays Corporate team including Richard Faulkner, TMT relationship director, and Rob Hession, relationship support manager.

Richard said: "Elstat is a fascinating company to work with. A strong management team coupled with the energy and passion of all the staff has enabled them to achieve impressive growth in a short space of time. “Elstat is a pioneer in its sector and innovation is part of the DNA of the business - I look forward to seeing the business grow in the months and years ahead.”