Pay as you sense

12 January 2021

Equipment rentals can help companies overcome the hurdle of finding investment capital to fund development and verification projects.

The current phase of the economic cycle, recovery from a slowdown, is always difficult and frustrating. Mark Ingham of Sensor Technology, said: “Companies are seeing their markets improve, but don’t have the reserves to finance all the activities that will kickstart their sales. What money there is has to be used carefully, which usually means funding some projects but not others. As a result opportunities have to be missed.”

Typically projects may include verification or reverification of a product range to an international standard, development of a new sized unit within a product range to address an emerging market requirement, modification of a design or a whole new development.

Sensor Technology already has a rental option in place for its TorqSense range of torque sensors. Potential users can choose to rent the equipment, rather than purchase it, circumventing the bottleneck of raising capital purchase approval. And to help companies along, if they decide that they want to hold onto a sensor for longer than anticipated, Sensor Technology will convert the rental to a sale, with a percentage of the hire fee already paid offset against the purchase price.


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