DAGEM Power, based in Cannock, Staffordshire, provides specialist technical services, testing and consultancy for the electrical transmission and distribution industries
Since its inception in 2014, the business has positioned itself at the forefront of supporting major renewable and nuclear projects advancing the UK Government’s transition to green energy, with projects including Hinkley Point C, Seagreen Offshore Wind Farm and London Power Tunnels 2 – the re-wiring of London’s underground transmission system.
Evolving the business model
In the decade since launch, the business has evolved, with the company adapting to a scarcity within the industry for internal training and specialist skills. Originally set up as a consultancy, DAGEM Power now also offers training, positioning the business as a trusted, expert link between renewable energy projects and their integration to the UK power grid alongside its service in providing specialist skills and training to businesses within the sector.
Since 2014 DAGEM Power has grown into a 50+ person team and has partnered with key academies and the Institute of Engineering and Technology to nurture the next generation of engineers. This has allowed the organisation to build a dedicated, highly skilled workforce to tackle some of the UK’s highest-profile and technically challenging projects, including major offshore windfarms.
Unlike the more traditional single-contractor approach usually employed within the industry, DAGEM Power offers a complete commissioning package service, including implementation of its proprietary Commissioning Management System, built on Microsoft O365 technology. This allows the firm to deliver projects at scale with transparency and efficiency while forecasting detailed costing for clients. With the ongoing skills shortage and increasingly competitive marketplace, this technology – alongside a continued effort in training with its #50by30 initiative to train 50 new engineers by 2030 – has allowed DAGEM Power to become market innovators and a trusted service provider for major electrical projects.
Fuelling Growth with Invoice Finance
As a resource-based business, DAGEM Power faces significant costs associated with recruitment, training and retaining specialist engineering talent. To deliver on major projects whilst maintaining a rapid growth strategy through investment in recruitment and training, a significant working capital is required.
By leveraging invoice finance through eCapital, DAGEM Power has been able to extract critical cashflow from outstanding invoices, which are reinvested into the skills and development of its trained staff, and assists with the expansion of the business. This added financial flexibility is underscored by the company’s willingness to hire globally and accelerate training through its Power Academy, ensuring further delivery of major projects.
Invoice finance allows DAGEM Power to get paid, and allocate funds, as soon as an invoice is issued, instead of waiting the industry norm of 45+ days. This offers the company more flexibility to reinvest where it is most needed, as Darren Edmunds, Business Manager at DAGEM Power explains:
“Our partnership with eCapital has been crucial in providing us with the confidence to continue to invest in ourselves, and align with the ambitious long-term goals of the sector.
“Our journey with eCapital has been marked by clear communication, tailored support and a deep understanding of DAGEM Power’s business model.
He adds: “eCapital has provided more than just financial support but rather the stability to drive innovation, nurture talent and continue our role in the UK’s renewable energy goals.”
Powering ahead
With a strong foundation, a commitment to the UK’s future talent and a reliable financial partner, DAGEM Power is set to continue delivering specialist commissioning services to power the nation’s green infrastructure for decades to come.
James Cresswell, Regional Managing Director at eCapital, said: “DAGEM Power operates in a highly technical field. The work they are doing is essential in ensuring safe, compliant and advanced solutions to help tackle the energy needs of the UK. Over the past few years we have seen DAGEM Power build out its capabilities to not only benefit the business, but wider industries.
“We look forward to continuing to build on our relationship to allow DAGEM Power to manage its cash flow in a way that best meets its needs, now and for the future.”
To discover more, visit https://dagem.co.uk/
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