A Tyneside electrical company is looking to increase its share of the growing green energy market with the help of a six-figure investment.
Newcastle based GME Industry specialises in designing, installing and maintaining commercial and industrial electrical services and works as both a main and sub-contractor with SMEs, property management firms and blue chip businesses right across the 海角视频.
Over the last couple of years, GME has been increasing its focus on the green energy and energy efficiency sectors, helping clients find different ways to reduce their energy usage, costs and environmental impacts.
Now, after working with regional fund management firm NEL Fund Managers, the firm has secured a £100,000 investment, from the North East Small Loan Fund Supported by The European Regional Development Fund, to help it build on a number of emerging opportunities.
Discussions are already ongoing on projects involving the development of new electric vehicle networks and charging infrastructure, while it is also aiming to increase the number of energy efficient LED lighting systems that it fits, at locations including schools, universities and NHS buildings.
GME Industry is aiming to double its current £1m annual turnover during 2021 and then to double it again through the following year.
It also expects to add its current nine-strong team, with plans already in place to recruit a number of apprentices this year.
It acts as a preferred supplier on a range of projects for commercial property giant CBRE and was also recently involved with a major installation scheme at Greggs’ Longbenton factory on a refrigeration unit which can hold up to one million pasties.
Most Read
Craig Morgan, who set up GME Industry with business partner Steve Black in 2012, said: “We’ve built up a solid understanding of the different aspects of the energy efficiency market and a track record that shows we can deliver what clients want quickly and on budget.
“Improving the 海角视频’s electric vehicle infrastructure is one of the hottest topics in British industry at the moment and the conversations we’re already having on different projects in this area are extremely encouraging.
“We’ve set ourselves some ambitious growth targets for the next few years, but feel confident that we have the technical skills and commercial strategy required to meet them.
“We’d had a number of conversations with NEL about different ideas and when the time was right, the investment team was really supportive in helping us get things done.”
Mike Guellard, investment executive at NEL Fund Managers, adds: “GME Industry has already demonstrated its energy efficiency credentials and it now has the resources required to make swift progress in markets where the opportunities are almost limitless.”