County Durham solar power specialist Power Roll is gearing up to fully commercialise its technology after securing a 拢4.3m investment. Power Roll - Business of the Year 2024 for the Durham, Sunderland and South Tyneside region - has developed an ultra-thin solar film that can generate and store electricity, and which can be installed on almost any surface, from rooftops and vehicles to sides of buildings.
The film can also be used in off-grid applications to provide portable power, and Power Roll has also been working with a Norwegian company to explore the potential for zero-emission maritime energy solutions. Now the Seaham firm 鈥 whose solar film is capable of producing green electricity that is significantly cheaper to make than existing flexible solar photovoltaic (PV) tech 鈥 has raised 拢4.3m in its most recent funding round to power up its technology.
The Jade Business Park company鈥檚 latest investment includes 拢1.5m from NPIF II 鈥 Maven Equity Finance, which is managed by Maven Capital Partners as part of the Northern Powerhouse Investment Fund II, 拢750,000 from the Finance Durham Fund established by Durham County Council and overseen by Business Durham, and 拢750,000 from the North East Development Capital Fund, supported by the European Regional Development Fund. The remaining 拢1.3m came from a number of private investors.
The deal marks the first to to be made from the Northern Powerhouse Investment Fund II (NPIF II) in County Durham since the launch of the 拢660m fund in March this year. The funding will be used to ramp up the development of Power Roll鈥檚 fully operational pilot plant, enabling small scale manufacture of its solar products.
Greggs and Fenwick came together to announce a second partnership, with the sausage roll champion this week unveiling its very own champagne bar in the Newcastle department store.
The two firms created a stir in Newcastle last year, when they came together to open Bistro Greggs, a silver service restaurant serving festive bakes and steak bakes under silver cloches. Bistro Greggs welcomed over 8,000 covers within a one-month period, prompting hopes it could make a return.
Now the companies have announced a new collaboration - pairing Greggs鈥 bakes and rolls with a selection of the finest Champagnes in a concept that promises to be the city鈥檚 hottest ticket in the lead up to Christmas.
Leo Fenwick, strategic partnerships director at Fenwick, said: 鈥淎fter the phenomenal success of last year鈥檚 Bistro Greggs at Fenwick, we are proud to once again partner with the fellow North East icon, Greggs, to launch Greggs Champagne Bar at Fenwick offering a fun, one of a kind costumer experience. This pop-up enhances our growing restaurant offer which continues to evolve through unexpected collaborations and new concepts bringing customers a truly memorable in-store dining experience."
North East estate agency Pattinson has snapped up a second office as demand for its services grows. The firm, which is based at the Silverlink Business Park in North Tyneside, operates an estate agency business and auction company. It has acquired a new office building next its existing large head office, which houses its regional call centre and other expanding departments.
The purchase comes within the same year as the firm鈥檚 purchase of three North East estate agencies, bringing its branch total to 30 Pattinson offices spanning the region. In May the business took over Stanley based NS Bennett Estate Agency, after owner Stephen Bennett announced his retirement 鈥 a deal which followed the previous acquisitions of Ryedales Estate Agency in Cramlington, and Browns in Stockton and Norton.
The new office building will accommodate the additional staff it has recruited following the recent acquisitions, as well as its national auction facility, Pattinson Auction. The company said it has seen an increase in auction transactions after appointing additional partner agents around the 海角视频.
Newly formed company Steel River Power is investing 拢100m into launching the largest private wire network in the 海角视频 on Teesside. Steel River Power Limited has been created to build and operate the network, which will deliver power to tenants on the Teesworks development site in the Tees Valley. The company will plough more than 拢100m into the project, which will directly employ more than 20 people, and indirectly employ hundreds more to upgrade and expand the existing private electricity distribution network, to accommodate the current and future needs of tenants on the Teesworks site.
Steel River Power Limited is a 50/50 joint venture between Steel River Energy Limited - whose directors are Teesworks operators Chris Musgave and Martin Corney, plus Tees Valley Combined Authority chief executive Julie Gilhespie - and North West Electricity Networks (海角视频) Limited (NWEN (海角视频).
Ian Smyth, CEO of NWEN (海角视频) said: 鈥淭his is a substantial investment to build the electricity infrastructure required to achieve net zero in the 海角视频. We are extremely excited to deliver our expertise to create the infrastructure that will generate high-value jobs and unlock sustainable economic growth. This investment cements NWEN (海角视频) as a leading provider of private electricity distribution network solutions.鈥
