The UK market leader in safety-critical sector training, learning technologies, and simulation solutions has raised $100m through bond issuance.
3t specialises in ground-up, re-skilling and up-skilling people within industries including energy. Following the successful funding round further expansion is expected, consolidating the position of the business.
‘This financing underscores the confidence of investors in 3t, our growth prospects and strategic vision,’ said 3t’s CEO, Kevin Franklin. ‘We are excited about the opportunities we have lined up for this year, and beyond, and remain committed to driving value for our customers throughout the world and to continue leading the way in addressing international skills shortages with our best-in-class training and learning solutions.’
‘This financing will provide us with the necessary resources to pursue strategic opportunities we have on the horizon complementing our existing capabilities. These plans will accelerate our expansion into growing markets, ultimately fortifying our position as the industry frontrunner,’ he added. ‘Our successful bond issuance marks a pivotal moment for 3t as we continue to pursue our ambitious growth objectives through 2024, and beyond.’
Earlier this year, Environment Journal reported on warnings from the power sector that increasing skills shortages posed a major threat to grid upgrades and renewable projects. 82% of staff in a survey by the energy union Prospect said staffing levels were too low in their workplace, and 69% said skills shortages were ‘tangible’. Meanwhile, we have also covered huge delays in connecting new wind and solar farms to the National Grid as a direct result of under-resourcing.
More on energy: