AVALVE maker aims to build on [pounds]1m of work after receiving further investment. Evolution Valves, in Stockton, has been backed by
Company bosses have secured [pounds]74,750, made up of a [pounds]45,000 loan and a [pounds]29,750 grant from UKSE's access to finance scheme, set up with backing from the Government's
The company, founded four years ago, completed deals worth [pounds]1m in January, and supplies valves to the oil and gas, chemical, pharmaceutical and marine sectors, with clients in the
It also moved into a new factory to bring more manufacturing work inhouse, and expects to add toits seven-strong workforce this year.
UKSE gave Evolution a [pounds]50,000 loan in 2011.
"Our expertise means designs can be produced in days rather than weeks.
"The grant element of this second UKSE investment has been particularly helpful.
"This is our first significant grant, as opposed to loans, and we see it as a vote of confidence in the business.
"It is not always easy, as a young company, to meet the criteria for financial support, but UKSE understands the needs of small and mediumsized businesses."
AVALVE maker aims to build on [pounds]1m of work after receiving further investment.
Evolution Valves, in Stockton, has been backed by