Ledwood to Harness the Energy of the Inexperienced Economic system
Growth Financial institution of Wales confirms vital seven-figure funding as Ledwood gears up for brand new alternatives within the inexperienced financial system
A major seven-figure funding by the Growth Financial institution of Wales in Pembroke Dock-based Ledwood Engineering will assist the 40-year previous engineering firm to leverage new alternatives within the renewable vitality sector and rising inexperienced financial system.
Nick Revell, MD; Colin Ferguson, Engineering Director
Established in 1983, the privately-owned enterprise is likely one of the largest employers in South West Wales and gives specialist engineering, fabrication and development providers to the World’s main vitality, manufacturing and processing corporations. Current contract wins embrace a £50 million contract with GE Steam Energy on the Hinkley Level C nuclear energy plant together with Bylor, SABIC, wooden, Phillips 66, Flogas, Spirit Power and Prax Group.
With a ten acre (4 hectare) dockside location in Pembroke Dock, Ledwood advantages from 150 metres of quayside with an 11 metre water depth permitting the corporate to provide main plant and tools worldwide by sea. Experience contains engineering, the fabrication of modules, structural metal and piping, venture administration, development and set up.
Nick Revell, Managing Director of Ledwood stated:
“We’re happy with our observe report working for among the world’s largest and highest profile vitality producers and industrial companies.
“Our group specialises in dealing with giant scale on and off-shore initiatives so we’re nicely positioned to construct on our expertise within the renewables sector, notably as so a lot of our current expertise are transferable.
“The renewable vitality market is growing rapidly as there’s an rising raft of recent applied sciences being deployed to extract vitality. Wind and wave energy, tidal initiatives, hydrogen and photo voltaic vitality are all rising in adoption and ever bigger initiatives are being developed, in a bid to make sure that dwelling grown renewable energy gives a bigger slice of our vitality wants.
“Our focus is on constructing a long-term sustainable future for our enterprise and meaning persevering with to ship the top quality work that we’re identified for whereas additionally capitalising on the brand new alternatives within the inexperienced financial system. We’re considered one of many indigenous Welsh companies that ought to be given the chance to bid for brand new work and turn into a part of the provision chain for main offshore wind initiatives within the Celtic Sea. That’s what’s going to create long-term worth for our native financial system and communities so this funding by the Growth Financial institution comes at a very essential time for us.”
Nick Stork is a Fund Supervisor with the Growth Financial institution of Wales stated:
“For us, it’s all about placing Wales’ potential on the coronary heart of our decision-making course of. As a well-established enterprise and enormous employer within the space, Ledwood definitely has the data, functionality and competence to capitalise on alternatives within the renewable vitality sector. As a long-term buyer, our funding will assist Ledwood to make the most of new alternatives that may profit our wider financial system.”
The funding in Ledwood got here from the £204 million Wales Enterprise Fund which is financed by the European Regional Growth Fund and the Welsh Authorities. Loans, mezzanine finance, and fairness investments can be found with phrases starting from one to seven years for small and medium-sized companies (these with fewer than 250 staff) primarily based in Wales, or prepared to relocate to Wales.
