North East energy consultancy, Ergo 3, receives £750k funding boost from ThinCats
North east serial entrepreneur, Chey Garland CBE, has cemented the growth plans for her latest venture Ergo 3, with the support of ThinCats. Ergo 3 is a specialist energy consultancy advising businesses on the best way to procure their energy needs.
Based in Stockton-on-Tees, Ergo 3 Ltd was founded in 2016 by Chey Garland, who recognised the need for greater transparency within the energy supply sector. Due to lack of information on their energy usage and requirements, many businesses waste money by being on the wrong combination of tariffs and energy suppliers for their specific needs.
The funding from ThinCats will support Ergo 3’s growth plans to hire more staff and invest in its technology infrastructure. The investment in new forecasting systems will provide their clients with the most up-to-date information and trends in the UK energy market. It also supports the organisation’s long-term brand, acquisition and retention strategies and will enable the organisation to lead the way and shape the future of bespoke energy consultancies.
Chey said: “I started this consultancy with the aim of simplifying the whole energy buying process which has become far too complex. Too many businesses are making poor decisions when sourcing their energy, so I created a way to help them. The funding from ThinCats will help accelerate our growth plans and increase our number of employees to more than 100.”
Ben Kimball, regional business development director for the North East, ThinCats, said: “It’s great to work with experienced entrepreneurs like Chey who can spot opportunities and convert these into clear business plans. We believe Ergo 3 fills a genuine gap in the market, so were delighted to provide the funding to support their growth strategy.”
