Amber Energy is an energy management company with the mission to provide solutions to the complex world of energy.
Amber Energy is an energy management company with the mission to provide solutions to the complex world of energy. Since its creation in 2009, the company has gone from strength to strength with big plans for the coming 4 years. They have set the target to grow revenue by over 300 percent from 2016 to 2021 by investing in growing the size and capability of the team, developing new product offerings that have been formed over the last 12-24 months to complement previous core services; and ensuring that clients are helped to maximise the benefits from new technologies such as the smart grid, battery storage and internet of things (See more at Fast Growth 50)
Amber Energy joined us at The Maltings over five years ago as a start-up business with big ambitions to grow. Starting in a four-person serviced office, after a few office moves within The Maltings they ended up with circa 3000 Sq.Ft of office space. We have really enjoyed watching the growth of their team and business. This year, Amber Energy was named in Wales’ Fast Growth 50 and are already making their stamp on the energy industry in Wales and beyond.
Nick Proctor, Company Founder and CEO, took some time out of his very busy schedule to answer some of our questions on his successes at Amber Energy.
Tell us a little bit about your background and what led you to start Amber Energy.
I studied Business Economics and Finance at Loughborough, and from there went on to complete a graduate scheme at RBS. I became aware of the large energy spends many businesses had and their lack of understanding of how to control these costs. On researching the market, it was clear there were a lot of people in the industry out to make a quick buck, and I saw the opportunity to make a difference in this sector. RBS had just offered me my dream promotion, so I thought it would be a very difficult decision, but it wasn’t. I woke up one day knowing that if I didn’t take the opportunity to start up a business there and then I probably never would, and I would regret it.
Describe your typical day at Amber Energy
It’s busy! I can be in client meetings across the UK or abroad, to working alongside my Directors on our growth strategy to supporting our Relationship Managers on service and product offerings to new clients.
What does Amber Energy do to set itself apart from competitors?
We’re a brand that ‘challenges the norm’ in the industry, we’re transparent and pride ourselves on being the ‘good different’. The energy industry is a distrusted sector for many reasons, and we set ourselves apart by ensuring our clients are receiving the best service and value, declaring our fees from the outset of the relationship.
Since you started here at The Maltings, your team has grown considerably – how have you done this? How difficult was it to find the right people for the brand?
We’ve become a well-known brand in the energy management market, particularly within certain sectors. With a great reputation and in the beginning, a lot of word-of-mouth recommendations, we’ve been able to bring on new clients and this, in turn, has led to the growth of the company.
We’re always looking at new opportunities in the marketplace, we never sit still, and we’ve made our company grow around the client’s energy needs. For example, with the deregulation of Water earlier this year, we have recently added Water to our services. Staying ahead of the curve and providing value for our clients is our key to growth.
Team Amber is a brand in itself and we’ve been lucky, we’ve found a lot of passionate and driven people who understand the companies’ aims and goals who have found the challenges and successes of working at amber rewarding.
You’ve recently been named as one of the fast-growth companies in Wales in 2017 – Congratulations! What are the plans for Amber Energy in the next 6 months?
Thank you! The next 6 months will predominantly be focused on processes, technology and people- this will be instrumental to the next phase of our growth. We believe the strongest phase of growth is yet to come. With this in mind, we need to invest in-house in a new tech team and finally supporting our existing staff with training and development. Other than that, it’s business as usual and keeping up with hitting our company targets!
If you had to give someone a piece of advice about starting a business in Wales – what would it be?
I don’t think there are many better places to start a business. I’ve had lots of support along the journey, particularly from the Welsh Government who helped me with the likes of recruitment when I was first starting up through the Jobs Growth Wales scheme, and as we’ve grown, we’ve had access to international trade trips and other funding opportunities. My honest advice to anyone starting a business; be clear about what you want to achieve, be passionate about it and believe in it. The rest is blood, sweat and tears!
I’d also recommend The Maltings as a space to start your business. The space and support that they provided throughout our growth were outstanding. We were able to grow with our needs in flexible offices from serviced to self-managed as our requirements changed. I had a goal in my head where I wanted the business to go and Space2B at The Maltings helped us achieve that.
How do you keep your team and staff motivated and how important is the ‘office’ to you and the team?
The office is the hub or home of our staff and this must represent who we are as a company, our brand and our culture. Working at Amber means you’re motivated by providing the best services for our clients, and when we do that, staff are rewarded. There are opportunities for growth in the company and we support everyone in the team’s career goals and objectives. When we hit our leg targets we celebrate in style- for example, next year the whole team is going for a 4 -day ski trip courtesy of the company to celebrate a great last year. Who wouldn’t be motivated by a few days of mountain air… or the apres ski?!
Find out more about Amber Energy here.