A high-tech Lancaster firm has won £1m of funding to develop its business strategy in UK and overseas markets.
Stopford Projects secured the cash from the North West Fund for Energy and Environmental projects, to drive forward its expansion plans.
The company, which has bases at Lancaster University and Ellesmere Port in Cheshire, is a process technology consultancy, advising on projects in the energy and environment sectors on an international level.
It works with Shell, BP, BAE Systems and Tata among others.
Managing director Prith Rajendran said he was “absolutely delighted” at the investment, which he said would help develop projects in the Middle East and Asia.
He said: “It is a major breakthrough for our business and enables us to expand further and faster in parts of the world we see as vastly important to our future development.
“Our focus remains to accelerate growth and the delivery of best practice across all the sectors we operate in.”
Stopford is about to sign what it says is a ground-breaking joint venture deal in Abu Dhabi to create a cutting-edge centre of excellence in the United Arab Emirates, to offer leading services across green technology, training and multi-disciplinary consultancy sectors.
The North West Fund provides funding to support growth, ranging from £50,000 to £2million, for businesses based in or relocating to the region to start, develop or expand.
It has already supported more than 200 businesses across Cheshire, Cumbria, Lancashire, Greater Manchester and Merseyside, with over £60million of investment to date.
The fund is managed by 350 Investment Partners, whose investment director Michael Bakewell said: “This is a fantastic new investment for us and we are excited to be joining Stopford at such a pivotal time in the growth of the business. As a multidisciplinary consultancy, it’s leading the sector in terms of environmental innovation and excellence.”