Technica secures funding to aid significant growth in energy infrastructure specialism

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Energy infrastructure-focused engineering specialist Technica has secured a major funding package to help it take on larger projects as it manages strong growth.

The Grimsby-based operation serves all the major gas distributors, working on upgrades to existing plants to provide security of supply and support the drive to Net Zero. Having seen turnover increase by more than 300 per cent in the past two years following a run of infrastructure contract wins, staff numbers have been increased by 50 per cent from 40 to 60.

Now the Northern Powerhouse Investment Fund is helping the business to increase capacity at its base on Cherry Tree Business Park, South Humberside Industrial Estate, while also providing additional working capital.

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John Davison, owner and co-founder of Technica, said: “Over the last two years, Technica has supported two of the largest and most complex projects in its history which has seen the business grow rapidly. New developments such as renewables, hydrogen and carbon capture promise exciting times ahead for our sector. However projects of this nature require large cash reserves. The support from Mercia and NPIF will enable us to take on more large projects over the coming year and continue growing the business.”

Mercia Debt Finance manages the fund, from which it has been awarded a £250,000 loan.

John Davison, chairman of Technica Ltd, with Rebecca Pickering, investment manager at Mercia Asset Management.
(Image: Shaun Flannery Photography Ltd)

Clients of the 16-year-old firm include National Gas Transmission, SGN, NGN, Wales and West Utilities, Centrica and Gassco.

Rebecca Pickering, investment manager at Mercia, said: “Technica helps support the UK’s energy infrastructure and, with the switch to renewables, is set to play an important role in the energy transition in the years to come. The business has undergone a step change in recent years. The funding will help it meet the demand for its services and pursue new opportunities ahead.”

The Northern Powerhouse Investment Fund project is supported by the European Union using funding from the European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

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Technica secures funding to aid significant growth in energy infrastructure specialism

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Governments pledge to ban trail hunting in spotlight as Boxing Day hunts meet

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