Published: 10:00, 30 May 2014 |
Updated: 10:36, 30 May 2014
A lighting manufacturer is getting a £200,000 cash boost for its research and development programme.
LED designer and maker 8point3 will invest the money in developing new products and employing new staff after gaining an interest-free loan.
The cash came from the TIGER initiative, a project set up for businesses in the Thames Gateway through the Government’s £2.3bn lending scheme the Regional Growth Fund.
The news comes at a good time for the Dartford-based firm, which was named Most Promising New Business of the Year in the Kent Invicta Chamber of Commerce Business Awards 2014.
The company – which operates from the SusCon research centre in the Bridge – is also a finalist in the Science and/or Technology Business of the Year category at the 2014 KEiBAs.
Managing director Ashley Bateup said: “Since we began trading, we have been at the forefront of developing LED lighting systems.
“We’d seen a gap in the market for a company that designed and manufactured bespoke LED systems here in the UK. At that time, most LED lighting companies were importing cheap replacement fittings from China.
“Since then we have been continually developing new products, using the latest leading edge technology, and the TIGER funding will help ensure that we continue to do that, grow our capabilities and develop staff.”
Every morning at 10am we play you an hour of tunes from the 90s. We call it, #WeLoveThe90s.
Play 'Say It' with Garry and Laura on kmfm Breakfast and you could win £1,000!
Wake up to kmfm Breakfast with Garry and Laura - it's Kent's alarm call.
A guide for your future. For year 11 students in Kent and Medway. Click here for the e-edition.
Education, Training & Childcare is a special supplement published by KM Media Group four times a year. Click here for latest e-edition.
Get the latest food and drink news, recipes from some of the nation's top chefs plus updates from Kent's vineyards and breweries.
Search in your local area to find your perfect partner in Kent, with FreshStart Dating! PLUS, register for free!.
Neil Miller, Hever Castle head gardener is new gardening blogger.
Buy pictures that you've seen in a KM newspaper, or send in a picture and we will place it on our photo sales website so that you can purchase a super, unique gift.