ESS Weathertech (ESS) is a Melbourne-based advanced technology company that specialises in solutions for the meteorological, oceanographic and environmental industries, as well as other specialised engineering fields.
Operating for over 30 years, ESS has successfully undertaken more than 100 projects in Australia, Asia and the Pacific.
Collaborating with many government and private corporations has allowed ESS to become a major supplier to national weather bureaus, port authorities, airports and military organisations across the region.
A high-profile contract
ESS secured a contract with a Japanese corporation that is responsible for implementing Japan’s overseas grant program.
This grant program aims to promote international cooperation, and develop the Japanese and global economy, by supporting socio-economic development and economic stability in developing regions.
Under this contract, ESS was required to manufacture and install new weather forecasting equipment to improve forecasting facilities in Pakistan.
However, as ESS needed to buy components and pay for manufacturing and delivery before receiving full payment from its customer, this placed some pressure on its cashflow.
This is something that many manufacturers face, given they are often not able to receive advance payments for their products.
While supportive of this new contract, ESS’ bank was unable to approve the additional working capital the company needed, and so it suggested ESS contact Efic to see if we had a solution.
How we helped
We were able to provide ESS with an Export Contract Loan, which gave it the additional working capital it needed to complete this contract while continuing to grow its business internationally.
And with a diversified pipeline of future orders, in addition to this contract, the future forecast for this advanced manufacturer from Victoria is looking very bright.