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Asset finance group expands into energy finance

by Annie Kane5 minute read
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Platform Finance has announced the launch of a new specialist energy division for commercial transactions.

According to the asset finance services partner, businesses are increasingly turning to smart, energy-efficient solutions given that power prices have risen by more than 100 per cent in the past 10 years. 

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As such, the group has now established a new energy finance division to help finance brokers provide an additional offering to clients that may be looking to fund the cost of setting up energy-related assets. 

The equipment that can be funded through the new Platform Energy Finance Division include:

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  • Solar power and battery storage
  • Efficient lighting
  • Voltage optimisation and power factor correction
  • Chillers, boilers and HVAC
  • Power generators 

Christopher Murray, the former account director at finance services company Multipli, has now been appointed to head up the new division in the role of head of vendor and energy finance.

Mr Murray has more than seven years of experience in the finance and energy sector.

Speaking of the move, Platform Finance CEO Brad Crinion said: “We believe this is a growing market with enormous opportunity, which is why we have bolstered our service offering. 

“The new division will enable brokers to add energy finance to their offering, to help create a competitive advantage.” 

Likewise, Mr Murray added: “Based on recent finance industry trends that we’ve seen, energy is one of the fastest growing sectors for equipment finance in Australia. 

“This new offering enables businesses to be self-sufficient in their energy supply, allowing them to save costs and operate more sustainably.” 

The group has also reportedly invested in an online quoting and documentation system for its new energy division, in a bid to speed up transaction quoting and documentation of deals for commercial solar installers by enabling signing at the point of sale.

[Related: Asset finance group rebrands]

Asset finance group expands into energy finance
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Annie Kane

Annie Kane

AUTHOR

Annie Kane is the editor of The Adviser and Mortgage Business.

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