NewPower Worldwide has expanded its committed credit facility to $750 million, further enhancing its ability to invest in inventory, support customer growth, and capitalise on opportunities across the global supply chain.
The increase follows a period of growth for NewPower Worldwide. Since its founding in 2014, the company has rapidly expanded its global footprint, growing to 14 offices across the Americas, EMEA, and APAC, with $5 billion in annual sales, and managing more than $1 billion in inventory worldwide. The expanded facility provides additional financial capacity to support continued growth and evolving customer requirements.
In today’s rapidly changing supply chain environment, financial strength and access to capital play a critical role in securing inventory and maintaining continuity of supply. The expanded facility enhances NewPower’s ability to purchase strategically, support large-scale customer requirements, and provide greater flexibility around inventory and delivery programmes.
“Our customers rely on NewPower to solve supply chain challenges quickly and at scale,” said Carleton Dufoe, Chief Executive Officer of NewPower Worldwide. “Expanding our credit facility to $750 million gives us additional capacity to secure inventory, support larger strategic programmes, and respond faster when opportunities arise across the market. It further strengthens our ability to deliver solutions that help customers succeed in any market environment.”
The expanded facility strengthens NewPower’s ability to support larger and more complex customer programmes while increasing the volume and scale of transactions the company can execute globally. By increasing its purchasing capacity, NewPower is better positioned to secure strategic inventory, capitalise on market opportunities, and deliver supply solutions to customers with greater speed, flexibility, and scale.
“Our expanded partnership with NewPower reflects our confidence in the company as it executes on behalf of its clients,” said Jason Upham, Senior Vice President at Citizens. “Our banking team led an increased credit facility designed to support NewPower’s goals and growth objectives.”
The expanded facility reflects NewPower’s continued financial strength and enhances its ability to convert market opportunities into tangible supply solutions for customers worldwide. Combined with the company’s global sourcing network and supply chain expertise, the added capacity positions NewPower to execute larger programmes, secure critical inventory, and help customers respond to changing market conditions with speed, flexibility, and confidence.
