Local renewable energy company Myenergi were recently awarded a grant towards a machine purchase that will enable them to bring their entire operation in-house and increase product capacity.
Myenergi produce renewable consumer goods including the electric car charger - branded ‘Zappi’- and an electric water heating system - branded ‘Eddi’, both which harness renewable energy from solar panels and wind turbines. Demand for the products has expanded on a global scale and the business hopes to further their success by producing new eco-friendly products and expanding their product range.
Director Lee Sutton and Business Development Manager Jordan Brompton led a crowd funding campaign to launch Myenergi in July 2016, after discovering a shared passion towards renewable energy. With over 10 years’ experience in the renewable industry, Lee was keen to start a business venture designing and marketing his own products and with Jordan’s keen eye for business opportunities and passion for the industry, they made a good team.
Jordan’s business adviser encouraged her to get in contact with the Grants4Growth team to enquire about funding towards an automated wave-soldering machine which would allow them to bring production processes in-house. Three weeks after submitting their application to Grants4Growth, Myenergi were awarded a grant of £1,582 towards the wave-soldering machine, and the team were thrilled.
With the support of the grant, Myenergi made their purchase, which has helped to significantly reduce production time and increase the volume of products being manufactured. Lee explained “We can now manufacture over a hundred units per day as opposed to a maximum of twenty or thirty units which is a huge step towards future proofing the business, as we no longer have to outsource elements of the process. This means we’ll become more profitable and be able to invest in our future growth”.
Since investing in the new equipment, Myenergi has gone from strength to strength and has recently received a huge £1.2 million investment, allowing them to double their workforce capacity and keep up with production demand. Lee and Jordan are hoping to further increase their export markets by establishing factories overseas, which would dramatically reduce their production costs for their overseas customers. Jordan said, “Something Myenergi are extremely passionate about, is giving the power back to the people, lowering utility bills and reducing the pressure on our national grid which means less reasons to use coal, gas and nuclear power”.
With the renewable energy market in high demand, and many major car manufacturers committing to becoming fully electric, some as early as 2019, the demand for products such as ‘Zappi’ is higher than ever. There are already 135,000 electric cars on the road and the number of installed solar technology on UK houses is now closing in on the one million mark, showing just how big the potential growth could be for the business.
Grants4Growth Programme Manager Justin Leckie said “We are thrilled to see the success the businesses across Lincolnshire have achieved since receiving funding from the programme. With some expanding globally and going on to produce new and innovating products, our local economy is benefiting and many companies are securing their place in the future.”.
The Grants4Growth programme offers capital grants between £1,000 and £25,000 to eligible SMEs who can demonstrate growth potential. If eligible, Grants4Growth can pay up to 28% of the overall cost and help a small business purchase capital assets to promote business growth and job creation.
To find out more about the Grants4Growth funding offer, visit http://grants4growth.sholland.gov.uk/ or email grants4growth@sholland.gov.uk.
