Elevate Export Finance Corp. (“Elevate”) is pleased to announce new funding for Surrette Battery Company Limited (the “Exporter”) with Eres Energia Renovable SAPI de CV (the ”Buyer”). Surrette is a leading North American manufacturer of premium lead batteries used in the marine, railroad and renewable energy industries. Surrette batteries are known for their high quality products, rigorous inspection and testing and are sold through over 150 dealers across North America and the world. They have completed multiple expansions and continue to expand as battery growth remains strong globally.
The buyer for this transaction is Eres Energia Renovable SAPI de CV (“Ilumexico”), a Mexican company that provides electricity through solar home systems to off grid remote rural communities. In Mexico, more than 500,000 families rely on insufficient sources of light which damage their health and the environment. Ilumexico was created by a group of university students who wanted to help communities and supply them with clean and affordable light from solar energy systems.
Elevate’s support enabled Ilumexico to purchase several thousand batteries from Surrette, to supply new individual and corporate clients in Mexico and Colombia, and to replace existing equipment at the end of its useful life.
This is the first time Elevate will be supporting this important exporter and we are proud to fund a company with such a strong mission to help communities and the environment. Elevate’s strong market knowledge and ability to provide much needed secondary financing in Mexico was a main factor in assisting the close of this transaction.
To learn more please contact us at elevatefinance.ca