News

12 January 2016

Growth grant recipient plunges into world’s largest subsea expo

A company which received a £140,000 D2N2 business grant to help it expand will be taking the plunge early next month (February), with its first appearance at the world’s largest annual subsea exhibition and conference.

Pressure Tech, a leading manufacturer of pressure regulators, based in Glossop, Derbyshire, will be at Stand Five of the event Subsea Expo 2016, at the Aberdeen Exhibition and Conference Centre, in Aberdeen. The exposition, running from February 3 to 5, will feature around 180 international exhibitors offering a wide range of marine and underwater technologies, equipment, services and expertise.

Pressure Tech – which received a £140,000 grant from the D2N2 Local Enterprise Partnership last year (2015), towards the company’s almost £1m investment in state-of-the-art machinery – will be exhibiting at the event for the first time.

Products on display at Pressure Tech’s stand will include its Subsea Regulators, designed to operate at subsea depths of up to 3,000 metres, and its Diving Regulators, intended for use on critical life support or hyperbaric diving applications.

The D2N2 grant to Pressure Tech was given through the LEP’s Unlocking Investment for Growth (UI4G) programme, which helps companies looking to grow to take forward their expansion plans and create long term sustainable jobs. It’s anticipated that the £140,000 UI4G grant will enable Pressure Tech to create a further 11 jobs in total.

Commenting when the grant was received Steve Yorke-Robinson, Managing Director of Pressure Tech, said: “The grant came along just when we needed the support to grow the business. It allowed us to invest in the resources we required.”

The UI4G programme, supported by the Regional Growth Fund and the European Regional Development Fund, is now fully committed and no longer accepting applications. Grants already approved will create over 400 new jobs in total and safeguard a further 350. The programme has inspired business owners in the D2N2 area to invest over £20million, alongside the grant support, to grow their businesses.

For more information on Pressure Tech see its website HERE and for more on Subsea Expo 2016 see link www.subseaexpo.com

More information on the D2N2 Local Enterprise Partnership’s work to boost economic growth in its area of Derby, Derbyshire, Nottingham and Nottinghamshire can be found at website www.d2n2lep.org 

Media wanting to know more about the D2N2 LEP can contact Sean Kirby, D2N2 Communications Manager, on 01159 578749 or email: sean.kirby@d2n2lep.org