A mechanical engineering firm has seen its growth plans boosted thanks to a £173K funding deal to support new product development aimed at driving safety and sustainability in the oil, gas and chemical sectors.
Smartflow produces dry break couplings at its manufacturing headquarters in Scunthorpe and will now push ahead with the testing of nine new designs thanks to support from Innovate UK, the UK’s innovation agency.
The grant will fund 70% of project costs for testing a new range of products aimed at eliminating spill and waste in fluid transfer systems, including those handling hazardous chemicals.
The project will see Smartflow’s new products undergo rigorous testing at two of the UK’s top testing facilities, the National Engineering Laboratory in Glasgow and National Physical Laboratory in Teddington.
Managing director Gary Thompson said the funding was a huge boost for the firm’s expansion plans.
“Within just a few years we fully expect to reach a turnover of £2m, bringing job opportunities and advanced engineering knowledge into the UK,” he said.
“The funding will enable us to build on the success of a similar product which has been a proven success on the global market over the past three years, with nine new variations of the coupling being put through their paces on a replica oil platform, as well as undergoing rigorous wear analysis.
“The high quality technical data from these trials will provide essential information for international clients and the credibility and certainty that companies need when investing in and upgrading their infrastructure,” he added
Testing will begin in the coming weeks on the newly designed products with an official launch into the global marketplace expected early next year.
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