Surface Generation secures £3million investment

Ben Halford, Surface Generation: New invesmtent will allow growth in new areas as well as existing markets.
Composite processing equipment manufacturer, Surface Generation, has secured £3.11million of new investment.

The company has developed Production to Functional Specification (PtFS) technology focused around 'intelligent' moulding which helps manufacturers to make higher tech goods more efficiently. It says the technology can reduce cycle times by up to 95% and produce energy savings of more than 90%.

Last year, it secured its biggest ever contract win with IHI Corporation, the Japanese engineering company, which will use the patented process to create lightweight jet engine parts for its next-generation, single aisle commercial aircraft programme.

The Midlands-based company is in talks with 12 manufacturers around the world and is predicting annual revenue of £2million for the financial year 2014/ 2015 - a rise of around 233% on the previous year.

Ben Halford, chief executive, Surface Generation said: "We are thrilled to have secured this additional funding from our investors who are committed to the long term growth of the business. The new investment will enable us to continue to grow in our existing markets, which range from aerospace to consumer electronics, but also enter new ones such as energy. With our new investment, we will also be looking to employ 10 new staff immediately, taking our headcount to over 40 people."

"Having recently opened a facility in Taiwan, we are now planning to open demonstration centres on the West and East coast of America, requiring an additional 10 staff. These are important developments as more than 90% of our revenue comes from overseas."

Author
Caroline Hayes

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