The Company established in 2018 provides wind turbine inspection, maintenance, and repair services. Using the proprietary robot technology, the Company performs turbine maintenance work for international wind park operators providing significant cost and time efficiency savings to the clients. Several of the already paying clients are the largest wind turbine manufacturers and holders such as Vestas, GE, Enel, and Siemens.

The Company’s customers pay with a 45-day to 60-day deferred payment. During the expansion and acquisition of new clients, the Company must maintain fast receipt of payments from its customer until the initiated equity financing round in autumn 2022. Therefore, the Company seeks indirect factoring financing with a total factoring limit of EUR 92,904 for 2 months to finance invoices issued to its clients Vestas Deutschland, GmbH (Germany), Vestas Northern Europe, AB (Sweeden), and Energie du Gatinais (France). Investors are offered a 14.88% annual interest rate (1.24% monthly) with principal repayment after the invoices are repaid in 2 months’ time. The Company will accumulate and submit a package of invoices issued to the customers and Capitalia in a work frame of the factoring agreement will finance 80% of the total invoices' amount. Since the customers of the Company are large world-scale concerns, it is not possible to agree on direct payment for invoices on Capitalia's account. Therefore, the customer will still pay to the Company which after the receipt of the payment for invoices will make a payment to Capitalia's account to cover financed invoices. The project risk rate is C (70 out of 100).

Ir vairāki faktori, kas padara Uzņēmuma kreditēšanu par pievilcīgu iespēju:

• The Company is backed by reputable VC funds, such as Change Ventures, and angel investors.
• The Company has initiated its next equity financing round for an additional equity investment of at least EUR 10 million.
• The Company has a highly experienced management team with over 15 years spent working in engineering and product development.
• The Company’s operations are well in line with the prevailing trends of larger usage of green energy and robotization.
• The Company has established relationships with the largest wind turbine manufacturers in the world, that are already paying customers.
• The Company has won several reputable awards and competitions for its product innovation.
• The Company has received grants from the EU for product development.
• The financing is backed by invoices issued to large and reputable wind turbine and energy sector market players.

Factoring product

The duration of a factoring contract is 2 months and we seek financing for the full approved credit limit. If the credit limit is regularly not used up by the client, we would reduce the financed amount by returning money proportionally to the investors. Alternatively, if the client would seek an increase in the credit limit, we will offer to invest additional capital.

Further notes about interest calculations:
A) Interest will be paid every month until the 5th day for the interest charged in the previous period. Under the factoring contract Capitalia charges interest upfront for the entire period of the financed invoice;
B) There can be gaps of a few days between invoice repayment and new invoice placement hence the actual return might be lower than the interest rate mentioned in the Summary section.