London firm moves to Sheffield to benefit from South Yorkshire’s advantages
Data technology start-up TUBR has moved from London to Sheffield and is set for growth with investment from Finance Yorkshire.
The company has now raised a total of £473,000 following a second funding round of £220,000 including £100,000 from Finance Yorkshire’s Seedcorn Fund alongside existing and other new investors.
Founded by entrepreneur Dash Tabor, the company provides a machine learning platform which enables businesses to turn data into informed actions quickly. The technology can be used across many sectors where it can predict likely future events, for example in retail, forecasting customer demand patterns as an aid to stock and staff planning or in environmental control, predicting pollution patterns from data collected through sensors.
Based at Sheffield Technology Parks, TUBR has attracted considerable interest with a previous funding round in 2022 which included US based venture fund BlueWing VC.
Dash’s career has been spent in technology data product management, monetising data solutions. She said: “I started building the TUBR technology understanding that companies would need machine learning and AI to compete post pandemic. The solution can be used to predict demand and improve operations.
“The investment from Finance Yorkshire and other investors will help us advance the technology and the speed of implementing it so we can start growing our customer base.”
Dash has relocated the TUBR business to Sheffield Technology Parks from London. “I was attracted to South Yorkshire because of the support available to start-ups and that I can tap into the ecosystem at the technology park and gain knowledge from its network to help build the business.”
Finance Yorkshire chief executive Alex McWhirter said: “Our seedcorn fund is perfect for supporting start-ups to scale up just like TUBR. Data technology is progressing at considerable pace and Dash’s vision and ambition for her solution is to be applauded. We are pleased to support the company and Dash’s entrepreneurialism.”
Finance Yorkshire’s seedcorn fund is part of a wider regional business fund which is expected to provide more than £50m to SMEs over five years. Investment is also available from its growth and business loans funds.
Yorkshire and the Humber resilient in the face of UK-wide fall in start-ups and rise in insolvency-related activity
With businesses across the UK facing the challenges of continuing high interest rates, Yorkshire and the Humber is remaining stalwart having put in a relatively strong performance in September compared to many other regions, according to the latest research from the UK’s insolvency and restructuring trade body, R3.
The research, which is based on an analysis of data provided by CreditSafe, shows that only two of the 12 regions and nations surveyed saw a rise in the number of new businesses last month. Yorkshire and the Humber had one of the lowest falls since August with a drop of just 1.7% as 4,294 start-ups launched in September. The highest levels of new businesses were in Northern Ireland (up 4.9%) and Wales (up 3%), followed by East Anglia (-1%).
In contrast, all of the other eight regions and nations saw month-on-month falls in new businesses of more than 4%.
In terms of levels of insolvency-related activity (which includes liquidator and administrator appointments and creditors’ meetings), much of the UK saw a rise between August and September 2023.
The greatest increases were seen in Northern Ireland (up 233%); and East Midlands (up 36%); while Yorkshire and the Humber (up 9%) was among four regions and nations with single digit increases. The best performing were the North East with a fall of 25.3%, Scotland (down by 17.6%) and the North West (-11.5%), and three others also saw falls in insolvency-related activity.
“In the midst of the pressure of high interest rates, there’s no doubt that businesses across the UK are feeling financial strain,” says Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds.
“The combination of pandemic debt, together with higher borrowing costs and falling consumer confidence, is not only leading to increased levels of insolvency-related activity in many regions and nations, but is also having a detrimental effect on the number of would-be entrepreneurs prepared to launch new initiatives.
“While Yorkshire and the Humber appears to be faring relatively well in such a difficult economic environment, after 14 interest rates hikes and with fears that the UK may officially enter recession next year, the worst may not be over.
“In fact, many experts believe that UK interest rates have not yet peaked and may remain high long-term as the Bank of England continues to struggle to control inflation. Businesses would be well-advised to prepare for a challenging winter and seek advice from insolvency experts at the first sign of financial problems.”
Cheers! Drinks industry welcomes lighter touch on labelling
New reforms to the UK’s wine industry aimed at driving investment, growth and jobs, have been welcomed by the industry.
Miles Beale, Chief Executive of the UK’s Wine and Spirit Trade Association said: “We welcome the measures announced by the Government, many of which the WSTA has been calling for for a number of years.
“Removing the restrictive rules on importer labelling will significantly reduce the post-Brexit impact of having to have a unique UK label. Moving to labelling Food Business Operator should allow one common label for both UK and EU markets, which will maintain the UK as an attractive destination market and support our aim for UK consumers continue to have access to the widest possible choice of wine from around the world.
“And at a time when businesses are doing all they can to minimise packaging waste, changes to packaging rules will be good for business, the environment and consumers.”
Feedback from the wine industry showed that certain regulations within the current 400-page rulebook have been stifling innovation and preventing the introduction of more efficient and sustainable practices. Changes will include removing expensive and cumbersome packaging requirements – such as ending the mandatory requirement that certain sparkling wines must have foil caps and mushroom-shaped stoppers. This will reduce unnecessary waste and packaging costs for businesses. Outdated rules around bottle shapes will also be scrapped, freeing up producers to use different shapes. The government will also remove the requirement for imported wines to have an importer address on the label – the Food Business Operator responsible for ensuring all legal requirements are met will still need to be identified on the label, as is the standard requirement for food products. This will create more frictionless trade and reduce administrative burdens. Further reforms will also give producers more freedom to use hybrid varieties of grapes. This will enable growers to choose the variety that works best for them and reduce vine loss due to disease or climate change, while also providing greater choice to consumers.Four in five business leaders are ‘accidental managers’, report discovers
Doncaster Chamber is highlighting the need for businesses to have adequate training and development in place for their leaders, following the release of a nationwide study on the topic.
The Chartered Management Institute has revealed that 82% of new managers in the UK have received no formal training whatsoever, having instead been promoted to their position on grounds that they were good at their previous job, are popular within their respective organisation, or because they simply happened to be available to take charge. Categorising these individuals as “accidental managers”, it goes on to argue that they are not equipped with the necessary skills for running a team and that this lack of experience can have an extremely damaging effect on the wider business.
The Institutes findings chime with research conducted in South Yorkshire earlier this year, as part of the region’s Local Skills Improvement Plan. Led by Doncaster Chamber of Commerce, this involved comprehensive desk-based research and consultations with more than 2,000 employers, with the ultimate goal of identifying the latter’s skills needs and offering ways to meet them.
Dan Fell, Chief Exec of Doncaster Chamber, said: “It’s important that we acknowledge this problem and do not turn a blind eye to it. A poor manager can make the difference between a team performing well and it needlessly floundering. Not to mention, they also are a major influence in terms of staff retention, with the old adage that ‘people leave managers not companies’ often proving to be true.
“On the other hand, a good leader can take a business to new heights and those employers that choose to invest in management development programmes will reap the benefits. Indeed, ensuring that your leaders are trained and supported can boost everything from productivity to staff morale and engagement.
“In this context, some of the Charted Management Institute’s conclusions are quite concerning. As the CMI has correctly pointed out, this negative trend must be reversed in order for UK businesses to thrive and be at their very best. Otherwise, they will never be able to unlock their full potential.
“While we will continue to lobby for further support to be made available in this regard — through the recommendations of our LSIP — I would like to take this opportunity to also implore local businesses to see what help is already out there for them. After all, we have a wealth of exceptional institutions, education providers and programmes right here in South Yorkshire that are delivering outstanding skills activities that can help managers with their professional development. Even if this might require some extra investment from employers, it will surely pay off in the long run. All too often we have a deficit-based conversation about skills, whereas we have some excellent provision in our region that can help with the challenges laid out in reports like the one published by the CMI.”
Forgemasters takes on 24 apprentices in Sheffield
Sheffield Forgemasters has welcomed 24 new apprentices for 2023, joining the Ministry of Defence-owned company during an exciting period.
They’ll apprentices will start at a variety of levels including two degree apprenticeships as the company drives forward with significant investment into new plant and equipment.
Nicola Childs, interim HR Director, said: “The calibre of candidates that came forward to join our apprenticeships scheme was very high this year and we were pleased to see much greater gender diversity across applications and successful candidates.
“The apprentices join our company at an exciting time, having secured significant investment following the MoD acquisition. As we transform our capability to meet the demands of our defence work, we are also expanding in areas such as civil nuclear and renewable energy.”
Sheffield Forgemasters is investing heavily over the next ten years to support its defence-critical assets, including a new 13,000 tonne Forge line and building, 17 major machine tool replacements within a new machining facility, which will be unmatched outside of the UK.
Nicola added: “Our apprenticeship programme is recognised as one of the best our region has to offer, and we are incredibly proud to be able to provide future generations with the opportunity to not only have a meaningful and varied career but also to develop important skills for life.”
Apprentices have secured roles in the following disciplines; Machinists, Electrical and Control Engineers, NDT Technicians, Methods Engineer (Degree), Design Engineer (Degree), Production Planning and Estimating.
Hull-based Arco renews long-term contract with FedEx
Hull-based safety specialist Arco has renewed its long-standing multi-million-pound deal with FedEx.
Working across Arco’s operating bases including the National Distribution Centre in Hull, the Arco Clothing Centre in Preston and all other retail operations, FedEx currently processes over 7,500 parcels per day, for next day delivery. This collaboration has been a vital part of Arco’s supply chain, ensuring seamless logistics and timely deliveries to customers across the UK.
The long-term close strategic relationship between Arco and FedEx first began in 2009 and has since been extended to December 2026. Throughout this relationship, FedEx has consistently demonstrated its ability to provide high-quality services, making them an ideal supplier for Arco’s ongoing growth and development. Neil Griffiths, Divisional Director, Logistics and Supply Chain at Arco said: “Since we signed the original contract in 2009, FedEx has proven to be the perfect supplier for Arco. With demonstrated excellence in reliability and customer service, we are delighted to extend this exclusive agreement through to the end of 2026. Both companies share the same values in terms of innovation and quality, and together we can build a positive future for our business and the customers we serve.” Rob Peto, Vice President Ground Operations, FedEx Express, said: “We’ve been working closely with Arco to improve and optimise their supply chain to deliver outstanding customer experience.”Government pulls back from imposing more reporting burdens on business
The Government has withdrawn draft regulations after consultation with companies raised concerns about imposing additional reporting requirements.
Instead, it will pursue options to reduce the burden of red tape to ensure the UK is one of the best places in the world to do business.
Draft regulations would have added certain additional corporate and company reporting requirements to large UK-listed and private companies, including an annual resilience statement, distributable profits figure, material fraud statement and triennial audit and assurance policy statement.
This would have incurred additional costs for companies by requiring them to include additional layers of corporate information in their annual reports.
Since July, the Government has completed a call for evidence on existing non-financial reporting requirements, which has identified a strong appetite from businesses and investors for reform, including to simplify and streamline existing reporting.
The Business Secretary has now decided to withdraw these regulations, and will be setting out options to reform the wider framework shortly to reduce the burden of red tape on businesses.
Business Minister Kevin Hollinrake said: “Since the Government first published these draft regulations in July, discussions with businesses and stakeholders have highlighted a strong appetite for existing reporting requirements to be simplified.
“The Government has decided not to implement the draft regulations at this time, while we continue at pace with our plans to reform the wider non-financial reporting framework. This will deliver a more targeted, simpler and effective framework for both business and investors, reinforcing that the UK is one of the best places in the world for firms to list and to do business.”
Pensana Chairman meets Government minister to talk about vital role of new Saltend factory
Pensana Chairman Paul Atherley has met Nusrat Ghani, Minister of State at the Department for Business and Trade and Cabinet Office, to discuss the potential UK and US Government support for its Saltend project, which is predicted to be a vital link in the UK automotive supply chain.
The meeting highlighted that development of the US$250 million Saltend project would be an important step in supporting the UK automotive supply chain, which employs over 780,000 people.
By 2030 the UK is expected to have transitioned to be a world leader in the manufacture of electric drive units, producing three million every year, with a large proportion destined for export. Without a secure magnet metal supply chain this is under threat.
Pensana is establishing an independent, sustainable rare earth supply chain with mid-stream processing to produce magnet metal in the UK.
The Saltend project will deliver 450 jobs during construction and 150 high value jobs in operation with a significant opportunity for further expansion. The facility is specifically designed to be flexible allowing it to process feedstock from the Longonjo project in Angola along with feedstock from other different rare earth mining projects.
The Minister assured Pensana that the project was of strategic importance for the UK and that support for the project would be raised during talks with Under Secretary Jose Fernandez during the Mineral Security Partnership discussions held during the London Metal Exchange Week.
Pensana was previously nominated by the UK Government as a partner under the recently announced Minerals Security Partnership between the US and its international allies.
The goal of the MSP is to catalyse investment from the private sector and key government partners for “strategic mining, processing, and recycling opportunities that adhere to the highest environmental, social, and governance (ESG) standards,” focused particularly on the priority critical minerals needed for core technologies such as electric vehicles and clean technologies.
Suite of support programmes unveiled for Greater Lincolnshire and Rutland businesses
In a significant boost to the economic landscape of Greater Lincolnshire and Rutland, Business Lincolnshire has unveiled a suite of fully funded support programmes.
These initiatives, aimed at fostering growth and development across various sectors, reflect Business Lincolnshire’s dedication to supporting businesses from their inception to their growth stages, and then onto reaching their full potential.
Among the standout programmes available are:
Your Business Boost, designed specifically for Retail, Hospitality, and Leisure businesses. This fully funded initiative provides a comprehensive support package, including group sessions, masterclasses, and tailored expert sessions.
For manufacturing businesses, the Made Smarter East Midlands Adoption Programme and Manufacturing Transformation Programme offer specialised support in digital transformation and business enhancement.
Also available is the Start Up Academy, geared towards budding entrepreneurs and early-stage businesses, offering vital workshops and mentoring sessions.
Meanwhile, the Scale-Up programme promises to take established businesses to new heights through personalised leadership and management training.
Additionally, Business Lincolnshire addresses the pressing need for environmental sustainability through the Low Carbon programme, equipping businesses with knowledge about Net Zero, Decarbonisation, Energy Management, and Supply Chains.
Councillor Colin Davie, executive councillor for economy and place at the county council expressed his enthusiasm about these programmes. He said: “These easily accessible programmes are part of Business Lincolnshire’s commitment to empowering local businesses.
“Not only do they provide expert guidance, mentorship, and funding opportunities, but also serve as educational and networking platforms. They help businesses to adapt, innovate, and flourish in an ever-changing market. As a region, we are investing in our businesses, enabling them to thrive and contribute meaningfully to our local economy.”
In addition to the suite of new programmes, there is a full calendar of upcoming events. The next event in the series is an AI and Marketing Masterclass, which will be delivered online on November 2nd, catering to both experienced and novice marketers and AI enthusiasts keen on advancing their businesses.
Additionally, the Going Global Conference, scheduled for November 27th at Lincoln Bomber Command Centre, offers an opportunity to explore international business opportunities with optional facility tours and a fantastic line up of key speakers from within the region.
Ready to embark on a path to business success? Business Lincolnshire has dedicated Growth Hub Advisers, who can offer personalised support and guidance to your business. Specialising in several key industries, their advisers can help you grow your business, upskill your workforce, and much more. To find out more about any programmes and events or for tailored business support, contact a Growth Hub adviser today.
£100m terminal regeneration set for Leeds Bradford Airport
Leeds Bradford Airport (LBA) is making an over £100m investment into a regeneration of its terminal facilities which will improve the passenger experience.
Approved by Leeds City Council, the work is set to commence in autumn 2023 and is expected to complete in 2026. Farrans Construction has been appointed as the contractor to deliver Phase 1 of the project, the construction of the terminal extension.
The regeneration will see a 9,500 sq m, three storey extension to the existing terminal, alongside a significant refurbishment of the current terminal building.
Passengers will benefit from the creation of additional aircraft stands, more seating, faster security, new shops and eateries, and a larger baggage reclaim area and immigration hall, as well as improved access for passengers with restricted mobility.
By 2030, the regeneration has the potential to create 1,500 new direct jobs at LBA and 4,000 new indirect jobs, as well as contribute a total of £940 million to the local economy.
The regeneration will also help LBA to further decarbonise its operations, as outlined in the airport’s 2030 Net Zero Carbon Roadmap, with the installation of new heating, lighting and machinery, including new baggage belts. It is expected that airlines attracted by the regeneration will accelerate the deployment of their newest, quietest and most efficient aircraft at the airport.
Vincent Hodder, Chief Executive of Leeds Bradford Airport, said: “This announcement marks the beginning of a new era for Leeds Bradford Airport.
“This investment will give us the infrastructure needed to deliver an outstanding customer experience, support the growth of our airline partners, enhance connectivity for business, investment and trade and provide the airport that Leeds, Bradford and Yorkshire have been waiting for.
“LBA is a key asset for our region and our community, our investment enhances and supports broader investments underway in Leeds and Bradford creating new jobs, new opportunities and shared benefits for our community.”
Cathal Montague, regional director at Farrans Construction, said: “Leeds Bradford Airport has played an integral role in the ambitious growth of the city of Leeds and the wider Yorkshire region, supporting connectivity to some of the world’s best destinations for business and tourism.
“We are looking forward to bringing the vision for its next stage to life through the extension and modernisation of the terminal. This project will be a major boost to the construction industry with jobs created through apprenticeships, direct labour and supply chain.
“We have had a strong connection to Leeds for many years, having delivered a number of important transport and infrastructure projects in the area. Farrans opened a new office in the city centre last year and we are in the final stages of the delivery of a 20-storey student accommodation project on Belgrave Street, Live Oasis St Alban’s Place.
“We will continue to engage closely with community groups, charities and schools to create local employment, training and apprenticeship opportunities to deliver a positive lasting impact while delivering Leeds Bradford Airport.”
This year, the airport is expected to contribute a total of £460 million to the local economy, directly employing 2,100 people and indirectly supporting 4,500 jobs.
Cosmetic vehicle repairer sees turnover rocket by 25%
Smart Repairs.co.uk, the independent cosmetic vehicle repairer, has seen an increase in turnover of 25 per cent this year.
The Leeds company, based at 18,000 sq ft freehold premises in Weaver Street, has also smashed its target of creating over 100 new and sustainable jobs.
Overall turnover is set to rise to more than £9.5 million by the end of this year.
Managing Director Darryl Short explained: “Since 2019, we have achieved sustained growth across the UK, disrupting the fragmented cosmetic vehicle repair sector, creating over 110 new jobs, buying brand-new premises in Leeds and working closely and rewarding our mobile technicians all over the country.
“We expect to employ 140 within three years, with turnover rocketing to £12m. This increase is totally sustainable as we steadily grow our share of the cosmetic vehicle repair market year on year. Currently we carry out 165,000 vehicle repairs a year.
“Our turnover in 2020 was £3,582,865; in 2021 it was £5,403,674; in 2022 it was £7,530,000; and this year it is projected to be £9.5 million, a year-on-year increase of almost 25 per cent. It is fair to say that the past 12 months have been our most successful ever in terms of growth.”
The company has recently extended its leadership team, employing a key account manager in the Midlands and, from this month, a financial controller.
Smart Repairs has already committed to 15 new vans early next year, an investment of £800,000. This year the company has bought 21 vans and have invested £1.2m in vans and equipment.
Millions to be invested in net zero glasshouse development near Lincoln
A new net zero glasshouse research and development facility is set to be built on the University of Lincoln’s Riseholme campus.
The Greater Lincolnshire LEP is providing a grant of £1.3m for the project, and the University of Lincoln is providing a further £889,000 bringing the total project cost to just over £2 million.
This new purpose-built glasshouse will offer access to specialist research infrastructure and innovation support services. This will allow SMEs and other businesses in the agricultural sector to adapt or improve their products or services.
The glasshouse will be sub-divided into independently controlled compartments, facilitating the delivery of multiple projects at the same time throughout the year.
The Greater Lincolnshire LEP’s proposed Agricultural Growth Zone, designed to support Greater Lincolnshire agriculture and the delivery of the UK Food Valley, will benefit from the addition of the glasshouse facility as it will provide a space for collaborative research and innovation.
The research and development infrastructure will also be used for the new AgriTech Incubator established by the university in partnership with Barclays Eagle Labs.
Eligible businesses will have access to research and knowledge transfer opportunities from experts at the University of Lincoln who will support businesses within the industry to adopt new technology, implement new processes and develop new products to transition into modern, technology-enabled businesses.
Sarah Louise Fairburn, Chair of the Greater Lincolnshire LEP Food Board, said: “This project will support those innovative businesses in Greater Lincolnshire that are working on agricultural and horticultural technology.
“The university’s Agri-Tech Incubator will establish a pipeline of businesses who require access to R&D facilities within a professional glasshouse environment, supporting future growth of the agri-tech cluster and ambitions of our UK Food Valley.”
Professor Simon Pearson, Director, Lincoln Institute for Agri-Food Technology (LIAT) said: “This is a critical new facility that complements the world-class research and innovation facilities already in place at the University of Lincoln’s Riseholme Campus.
“It will support research, innovation and skills development for the Local Enterprise Partnership and the national horticulture sector, and the investment will focus on the development of novel renewable sources for glasshouse production. These will, in turn, reduce emissions and mitigate the sector’s dependency on fossil fuels.”
Food and drink manufacturers remain confident despite mounting challenges
Eight in 10 (81%) leaders in the UK food and drink sector feel positive about the prospects of the industry over the coming year, but mounting pressures including the twin threats of higher energy costs and constraints on consumer spending will continue to test businesses’ resilience, accountancy and business advisory firm BDO LLP has warned.
BDO’s annual Food & Drink Report, which surveys manufacturers in the sector, reports a high degree of optimism among food and drink manufacturers.
Although down slightly on last year (78%), 70% of respondents are feeling positive about the future of their own business in the next 12 months. This is buoyed by the big jump in optimism for the sector overall which has increased from 69% in 2022 to 81%.
Over a third (40%) expect an increase in their gross profit margins over the coming year and, as the buoyant mood continues, a further quarter (24%) are planning acquisitive purchases. Almost a third (30%) say new product development will be a key driver for growth across the next 12 months, whilst 29% say expanding in non-European Union (EU) markets is a key focus.
Despite the confident outlook, BDO’s survey highlights the myriad of challenges businesses in the sector are facing.
Half (50%) of the respondents reported difficulties in recruiting the people they need, with engineering and project management or production-related roles the hardest to fill. Almost two fifths (39%) of those experiencing recruitment challenges believe skills shortages are worse now than before Brexit and COVID-19.
Digital transformation remains a key area of investment to boost productivity and gain competitive advantage. The majority of respondents state their executive teams recognised the importance of this, however 60% aired concern that they were falling behind on their digital transformation journeys as firms grapple with unswerving economic headwinds. In addition, 28% say they are taking on higher levels of debt to counteract inflation.
The Ukraine conflict continues to affect 65% of businesses in the survey. According to the BDO report, overly complicated import-export rules are cited as reasons for hampering trade. Almost two thirds (63%) are finding it hard to trade with Northern Ireland via the Trader Support Service, with a further 69% struggling to use preferential origin under the UK’s Free Trade Agreements.
Cindy Hrkalovic, head of food and drink at BDO, said: “After enduring Brexit, COVID-19, supply chain disruption and a cost-of-living crisis brought on by a war in Ukraine, food and drink businesses should be applauded for the resilience and adaptability they have demonstrated.
“However, the long-term nature of many of the threats facing UK food and drink companies suggests that leaders will need to stay flexible and think strategically about the future of their businesses. Sticking-plaster measures from businesses or government will not suffice in an environment where a return to normality – whatever that is – remains elusive.”
Food and drink is the biggest manufacturing industry in the UK with a turnover of £128bn and exports worth £25bn. The sector employs 456,000 people in the UK, with its supply chain employing a further 4.3m people.
Expanding engineering design consultancy gets a foothold in the Humber at The Deep Business Centre
A long-established engineering design consultancy is aiming to build partnerships and generate job opportunities after expanding to the Humber by opening a new office in Hull.
ENG-CAD Group is on the doorstep of the region’s onshore and offshore renewable, oil and gas sectors in its new location at The Deep Business Centre where it will also be targeting general industry.
Graham Manning, business development manager at ENG-CAD, said the company, based in Great Yarmouth, has worked in the Humber area in the past and now feels that the time is right to take a foothold on the estuary.
He said: “Having worked previously with a number of businesses in the Hull and Humber area we are aware of the massive opportunities that exist here given the huge amount of ‘all sector’ industry. We also see an appetite for growth and sense that there could be room for another company here to provide the range of technical engineering and survey services that we offer.”
ENG-CAD Group was launched 15 years ago by Managing Director David Tucker, an experienced engineer who established the business in the onshore and offshore industries and expanded into sectors including renewables, marine, nuclear, utilities and food.
Graham said: “Currently, we have ten core people in the business including structural engineers, design engineers, surveyors and draughtsmen and we also use local contractors where necessary and available, including many from the Humber, Yorkshire, and North East regions.
“We are dipping our toe in the water by opening an office at The Deep, where the beauty of this facility is that we can add more space very quickly and bring in additional people for our projects if needed.
“You only have to look out of the window here to get an idea of the enormous potential so we’re looking to collaborate with existing companies, contractors, suppliers, and skilled trades people where we see mutual benefit in working together, sourcing new opportunities and delivering projects.
“We recognise there is a lot of competition but also that there are a lot of business opportunities so it’s up to us to use our new location, our experience and the work we have done here in the past and to make more people aware of what we can do.”
Freya Cross, business and corporate manager at The Deep, said: “Over the years we have welcomed many clients from engineering and energy who have started on a small scale and made the most of our support to raise their profile and expand their activities.
“As a city centre site on the bank of the Humber we are close to essential amenities and within easy reach of riverside energy companies and major industry in the local area and further inland. We are also well-versed in the ever-changing requirements of project work, and we look forward to supporting Graham and his colleagues as they expand in the Humber.”
Sheffield-based ITM Power plans to bid on new projects in America
Sheffield-based clean energy company ITM Power is to start bidding on projects in America, having standardised equipment to meet regulations on both sides of the Atlantic.
ITM intends to build on its strong relationships with various North America-based industry leaders, some of which have already been announced as collaborations to cement its technology leadership and future proof the supply chain.
Dennis Schulz, CEO ITM, said: “The US has the potential to become one of the largest markets for green hydrogen. The region’s green hydrogen journey has just started, which provides ITM with a tremendous opportunity to become a leading electrolyser provider as the market develops over the coming years.”
The US is widely recognised as having the potential to become one of the largest markets for electrolysers. Supported by the $370 billion Inflation Reduction Act (IRA), the US National Clean Hydrogen Strategy and Roadmap, released in June 2023, identified future demand scenarios, with strategic opportunities for the domestic production of 10 million metric tonnes (MMT) of clean hydrogen annually by 2030, 20 MMT annually by 2040, and 50 MMT annually by 2050. It complements the $9.5 billion investment for clean hydrogen through the Infrastructure Law. To put the US domestic production opportunity into context, the International Energy Agency (IEA) estimates that the current global use of grey hydrogen is 95 MMT per annum.
Government’s funding decision will not end stand-alone Greater Lincolnshire LEP
Lincolnshire’s local authorities and the Greater Lincolnshire LEP Board have agreed that the LEP will not integrate into a local authority by 24th March 2024, when direct core funding comes to an end.
The Government had wanted the work of the LEPs to be absorbed into a local authority, where funding will be sent instead, but the Greater Lincolnshire body will continue to operate in the medium term, with any future integration aligned with a potential devolution deal for Greater Lincolnshire.
Neal Juster, Chair of the Greater Lincolnshire LEP, said: “The Greater Lincolnshire LEP continues to serve us exceptionally well and we are proud of the role all partners have collectively played in working together to deliver economic development, infrastructure, and major programmes across our area in recent years.
“As a board and a team, we are committed to working with all partners to continue our work, and to develop next steps leading up to devolution, recognising the importance of a strong business voice and a successful economy for Greater Lincolnshire.”
Councillor Martin Hill, Leader of Lincolnshire County Council, said: “Across Greater Lincolnshire, we want to ensure that the voice of businesses in our area continues to be heard. The participation of the private sector has been critical to the success of LEPs, and we have a shared commitment to making sure that businesses play an active role in shaping economic policy going forward.
“Given our ambitions for devolution, we believe there is no reason to transfer responsibilities for economic development away from the LEP at this time.”
Councillor Rob Waltham MBE, Leader of North Lincolnshire Council, said: “We’ve worked closely with businesses through the LEP, supporting the creation of more, well paid jobs and backing their ambitious investment plans across the whole of Lincolnshire.
“This will continue with our equally ambitious commitment to securing a game-changing devolution deal which will make a positive difference to every family in the county – businesses will be an essential part of this.
“Businesses across our area have proved themselves to be instrumental in making a huge contribution to productivity for the whole of the country through providing fuel, food and energy for the UK and they will play an integral role in Lincolnshire’s ambitious future.”
‘Living Lab’ switch-on means new way to test offshore technology
An advanced 5G-equipped ‘living lab’ has been switched on at the Offshore Renewable Energy Catapult’s Operations and Maintenance Centre of Excellence in Grimsby.
The Greater Lincolnshire LEP has jointly funded the £2.8m Ports and Offshore Renewable Technology Accelerator Lincolnshire (5G PORTAL) with Innovate UK.
It will accelerate the development of a new generation of digital technologies essential to the huge expansion of offshore wind farms required to meet the UK target to deploy 50GW of offshore wind by 2030.
The ‘living lab’ will allow technology providers to develop, test and demonstrate their equipment in real world conditions, with access to reliable, high-speed communications, and aims to attract users from across the global offshore wind sector.
Graham Stuart, Minister for Energy Security and Net Zero, who’s also the MP for Beverley and Holdernness, said: “As a country, we need to embrace new ideas and technologies to make sure the global boom in offshore wind continues. The high-speed communications infrastructure will provide the perfect environment to test and develop the next generation of digital technologies, making our wind farms smarter, safer and greener.
“This will also level up the country by sustaining 200 skilled jobs, supporting more than 120 businesses and creating 20 new enterprises. Thanks to the 5G PORTAL, Grimsby is becoming world famous as the driving force behind the digital revolution in offshore wind.”
The 5G PORTAL is delivered by a consortium led by ORE Catapult, bringing together the expertise of Microsoft, XceCo, Associated British Ports (ABP), Accelleran, JET Connectivity, Boldyn Networks and Satellite Applications Catapult.
Andrew Macdonald, Director of Offshore Wind Development and Operations at ORE Catapult, said: “The 5G PORTAL opens the door to an exciting new future for offshore renewable energy in the Humber with our expert partners. It will provide a real-world test and demonstration zone for robotics, AI, remote sensors, wearable technology, zero emission vessels and smart ports, driving forward the digital evolution of our next generation wind farms.
“Innovators can make the most of this unique resource as they bring new products and services to market, both in the UK and across the world. We believe it will attract investment from the global offshore wind market that will be felt regionally and nationally as offshore wind rapidly expands and opens up significant export opportunities.”
To create the 5G PORTAL, two 5G technology development and demonstration zones linked by a fibre network were created: Grimsby Port is at one end and the Lynn and Inner Dowsing wind farm is at the other.
Government launches wet wipes plastics ban consultation
A consultation on banning wet wipes containing plastic across the UK has been launched today under plans to tackle plastic pollution and clean up our waterways.
Said to be a key measure in the UK Government’s Plan for Water, the ban forms part of the government’s ongoing work to ensure there is more investment, stronger regulation and tougher enforcement across the water system, helping tackle plastic and microplastic pollution and improve water quality.
Wet wipes containing plastic break down into microplastics over time, which can be harmful to the environment and human health. Banning wet wipes containing plastic would help alleviate this issue, as well as reducing the volume of microplastics entering wastewater treatment plants when wrongly flushed.
Alternatives to wet wipes containing plastic are already available, with a number of major brands removing plastic from wet wipes. Boots, Tesco and Aldi are amongst major retailers who have stopped selling wet wipes containing plastic. The ban would build on this action from retailers to make only plastic-free wet wipes available to consumers.
The plans have been set out in a joint consultation with the devolved administrations which has been launched today to seek views on banning the manufacture, supply and sale of plastic-containing wet wipes across the UK.
It recognises public calls for action to tackle plastic pollution in waterways, and widespread public support for the proposed ban. A 2021 Call for Evidence in England found that 96% of respondents supported a ban on wet wipes containing plastic.
Environment Secretary Thérèse Coffey said: “Wet wipes containing plastic are unnecessary and are polluting our environment.
“Today’s plan shows we will continue to tackle plastic pollution in our waterways, building on banning microbeads in personal care products to taking billions of plastic bags out of circulation.”
Firms encouraged to apply for Artificial Intelligence funding
Artificial intelligence projects in areas as diverse as fashion, farming and fire-fighting are being backed with a further £37 million, says Science and Technology Secretary Michelle Donelan.
Research teams and businesses of all sizes in high-growth industries – from transport to agriculture and construction to creative industries – are encouraged to apply for a share of £32 million, which is now open for bids. The funding will help grow their AI initiatives in a safe and responsible way and boost the wider sector, support their workforces and help the UK towards the Prime Minister’s priority of growing the economy.
A further £5 million has been awarded to feasibility studies for 100 projects involving small businesses across the UK, helping to sow the seeds of an idea that could flourish into game-changing technology, part of a push from government to grasp the positive effects of AI to boost productivity and growth. This funding will support AI tools being used right across the economy, from managing the power supplies to EV chargepoints and reducing delays on the railways, to using AI to reduce the waste produced by the construction industry, and monitoring the health of dairy cattle.
Michelle Donelan said: “When it is deployed safely and responsibly, AI can and will transform what is possible in the world of work, unlocking gains in productivity and efficiency that could never have been imagined before.
“That is why we are backing 100 small teams with the seed of an idea – from using AI to boost clothing recycling to driving housebuilding – to drive them forward. At the same time our £32 million competition will support teams of all sizes to kick their ideas on to the next level, further helping us shape how this vital technology of the future can work for us and grow our economy.
“It is also why we are bringing world leaders and tech experts together in just a few weeks’ time for the AI Safety Summit, to build cooperation around the risks and opportunities of this incredibly promising technology and how we manage it safely.”
Leeds advisers supports Yorkshire entrepreneur as Assisi Pet Care acquired
Yorkshire-based entrepreneur Peter Mangion, founder and CEO of Assisi Pet Care Group, a producer of pet foods and treats, has partnered with Wind Point Partners, a Chicago-based private equity firm which has approximately $6 billion in assets under management.
The deal was supported by a team of Leeds-based legal and financial advisers and provides a successful exit for Harwood Private Equity.
Headquartered in Melton Mowbray, the company’s products are sold in the UK and throughout Europe, with two natural treat production facilities located in Poland. Assisi is a key partner to leading customers across the grocery, e-commerce and pet specialty channels, offering a broad array of branded and private label products.
Assisi was founded in 2020 as a platform to acquire, integrate and grow leading pet food and treat companies with established reputations and strong potential.
Under Mr. Mangion’s leadership, Assisi has grown significantly through the implementation of organic growth initiatives and the completion of four acquisitions that expanded the company’s product capabilities and geographic reach. Assisi represents the second partnership between Wind Point and Mr. Mangion, who previously served as CEO of a Wind Point investment in the pest control industry.
A team of Leeds-based advisers has supported Assisi’s growth journey, advising through its four acquisitions. The team included Jonathan Simms, Hitesh Tailor, Tony Berry and Isabelle Hammond of Clarion who provided legal advice; Richard Firth and Daniel Swanwick of Park Place who provided corporate finance advice; and Russ Cahill of Tax Advisory Partnership who provided tax advice.
Mr. Mangion said: “Assisi has been on a tremendous journey since its inception in 2020, which is a testament to the strength and quality of our people, our customer and supplier relationships and the rich heritage of our brands and products. Wind Point and I have worked closely together for numerous years. Our shared focus on investing in our people and expanding our capabilities makes them the ideal partner for Assisi.”
Adam Jump, vice president at Wind Point, added: “Assisi is a rapidly growing platform with significant opportunity in the dynamic European pet care industry. Peter and the Assisi management team have built an outstanding business that sits at an exciting inflection point. We look forward to supporting the Assisi team as they continue to build a differentiated pet foods and treats platform.”
Wind Point is a long-time investor in the pet and animal nutrition industry, with select prior and current investments including targeted PetCare, FoodScience, Petmate and Pestell Nutrition.
Reed Smith LLP served as legal counsel to Wind Point and KPMG LLP provided transaction advisory services in connection with the transaction.
