ElectraTherm Inc. is an innovative American small business that has discovered how to capture the abundant energy resource of waste heat and convert it into a clean source of electricity. With EXIM Bank’s support, the company is also turning its technology into expanding international sales.
It’s Power+GeneratorTM machines generate fuel-free, emission-free electricity from low-grade waste heat that is produced by a variety of industrial applications, such as stationary diesel-fueled engines, biomass boilers, wastewater treatment and geothermal energy production.
The company needed nonpayment protection as well as funds to fulfill its fast-growing worldwide expansion.
Using two EXIM Bank products designed for small business, ElectraTherm increased its export revenue. ElectrTherm relied on the Bank’s small business environmental insurance to protect against foreign buyer nonpayment and an EXIM-guaranteed line of credit to increase its working capital to fulfill export sales orders.
Today, exports account for nearly all of ElectraTherm’s growing revenues, which enabled the company to add to its workforce of nearly 30 full- and part-time employees. EXIM has supported $2.3 million of the company’s export sales since 2015. With EXIM Bank, ElectraTherm is poised to take its heat-to-power technology to even greater levels.