Surface Generation, an SME composite processing equipment manufacturer based in the Midlands UK employing 30 people, has secured £3.1 million of new investment to help maintain its rapid growth.
The company has invented a new unique and innovative solution 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 over 90%.
Last year, it secured its biggest ever contract win with IHI Corporation, the Japanese engineering giant, which will use Surface Generation’s new patented process to create lightweight jet engine parts for a major next generation single aisle commercial aircraft programme. In addition to its existing clients, Surface Generation is currently in talks with 12 manufacturers around the world (7 Fortune 500) and is predicting annual revenue of £2 million for the financial year 2014 / 2015 (1st March to 31st April), which would be 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.”Back to Press Releases