Two North East tech firms have come together, following Bondgate IT’s acquisition of a Stockton based company.
Darlington based Bondgate IT has acquired MCWare IT Solutions in a move that will expand its position within the 海角视频’s managed service provider sector.
Both businesses are experienced at delivering international projects, each having more than 20 years’ experience managing, supporting, and delivering strategic IT business solutions.
The deal, supported by RMT Accountants & Business Advisors, and Tilly, Bailey & Irvine law firm, is also set to create additional jobs.
MCWare is experienced in the subsea and marine sectors, completing global projects involving all types of vessels, and Bondgate IT intends to use its technical team to boost the service to these clients.
Teesside innovation centre the Materials Processing Institute has secured a £750,000 Northern Powerhouse investment to boost its research credentials.
The Middlesbrough not-for-profit research and innovation centre has received the six-figure sum from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund (NPIF).
The Materials Processing Institute focuses its R&D on advanced materials and achieving industrial decarbonisation through a low carbon and hydrogen future, as well as the use of new digital technologies and reducing waste through a circular economy.
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The institute will use the investment to further its work, improving research capabilities and its ability to rapidly accelerate industrial innovations.
Northumberland property firm EW Estates is looking to grow with the help of a five-figure investment.
Emma Walker launched Ashington based EW Estates 18 months ago to provide lettings and property management for residential and commercial properties.
The managing director had originally only planned to have brought in one extra employee by this point in time - but she has already built a 14-strong team on the back of strong activity levels in the buoyant North East property market.
After working with regional fund management firm NEL Fund Managers to secure a £24,000 from the North East Small Loan Fund, EW Estates is now planning to create another five new jobs before the end of the year.
Tech firm Filtronic plc is toasting a £600,000 deal with a US company in a new market that it has been targeting.
The telecoms manufacturer – which has bases in Sedgefield, County Durham, alongside sites in Yeadon in Leeds, and Maryland, US – designs and manufactures products for the aerospace, defence, telecoms infrastructure and critical communications markets.
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The company announced the “significant” new contract win, for pilot phase production units, following a successful product development of over-the-air 5G mmWave modules for the test equipment market.
Filtronic said the new contract is valued at $800,000 (approximately £600,000) and is of strategic importance “as it fulfils the objective of broadening the customer base and it addresses an adjacent market we have been actively targeting for growth”.
A south-east Asian energy giant has bought a near-half share in a demonstrator wind farm off the coast of Northumberland.
Malasyian utility company Tenaga Nasional Berhad (TNB) has acquired a 49% stake in the Blyth Offshore Demonstrator project via its wholly owned renewable energy subsidiary Vantage RE.
TNB is the largest electricity utility in Malaysia, with assets of more than £17bn.
It said the investment into the Blyth demonstrator would allow it to diversify its portfolio into renewable energy.
French firm EDF remains the majority shareholder in the scheme, with its EDF Renewables 海角视频 division having 51% stake.
The project includes the existing 41.5 MW wind farm and the development rights for a new offshore wind farm project which will have a capacity of up to 58.4MW.
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