The appetite for funding remains strong across all LEP areas. This has enabled the Northern Powerhouse Investment Fund to continue to secure a strong momentum of deals in a wide range of businesses. A combined total of almost £1 million has been invested into the following six businesses through the NPIF appointed fund managers:
York-based Revolution Waves Ltd, a low-calorie soft drinks business in their first year of trading which has achieved excellent sales in Tesco and Co-Op. The business also donates 5p from every bottle sold to NHS charities. The loan will help the business achieve continued growth through the creation of nine new jobs.
Blackpool-based Omega Product Services, a LED lighting specialist which supplies to the electrical wholesale market. The loan will allow the company to take on new sales staff and diversity its product range to offer its customers a more extensive line of products.
Chesterfield-based food specialist which produces a range of mouth-watering pâtés and terrines. The investment will help the company purchase additional new equipment after seeing an increase in demand for their new products from the professional catering market.
Liverpool-based CEMOS Solutions Limited, a cloud-based digital platform developer which create mobile applications that are tailored for health, fitness and wellbeing. The investment will allow the company to diversity its first digital product, Get Event Fit, whilst also developing new health and wellbeing products.
Award-winning Hull-based video advertising start-up, which has developed a novel in-browser, video advertising platform for mobile devices. The company recently expanded into mainland Europe and looks to hire additional staff using the funding provided to support its ambitious growth plans.
Tees Valley-based CRESS Systems, an energy storage provider for industrial energy efficiency which has developed a product for the container ports market. The funds will be used to take the product into production and enable the company’s first sales to leading shipping port customers.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Photo Caption: Left to right Richard Bradshaw, Chief Executive of CRESS, Simon Crabtree, Investment Manager at Enterprise Ventures, Mark Wilcockson, British Business Bank and Chair of CRESS Beverley Gower-Jones
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