HEXHAM: CASH BOOST FOR WIND TURBINE FIRM
Resource from: Hexhamcourant Likes:143
Jan 02,2014
A HEXHAM business is celebrating after receiving a £100,000 Christmas windfall.
Wind turbines installer Hadrian Electrical Engineering has received a £100,000 investment from the Finance for Business North East Proof of Concept Fund managed by Northstar Ventures.
Based in Hexham, Hadrian started trading in 2010, specialising in the supply and installation of renewable energy systems, as well as providing electrical and refrigeration support to local businesses and farmers in the North East.
The investment is going to be used towards marketing projects, purchasing of new solar equipment and working capital.
Renewables have now become a good investment opportunity for both commercial and private use, due to the Government’s introduction of Feed in Tariffs (FiT).
FiTs are paid by the energy provider to the user of the renewable energy systems.
For each unit of electricity the renewable system produces, an amount is paid to the user for the generation of green energy, and they are paid at a fixed rate for 20 years.
The main aspect of Hadrian’s business is the supply and installation of wind turbines.
It is the exclusive distributors of Kingspan and Tozzi Nord turbines and Kirchner solar trackers for the North of England.
The Tozzi is the leading performing small wind turbine, which outperforms all of its competitors by at least 36 per cent – not only does it produce high energy levels, even at low wind speeds, but it is also aesthetically pleasing.
Finance director of Hadrian Doug Martin, said: “The outstanding performance of the Tozzi turbines combined with the current Feed in Tariff levels has produced some exciting long term investment opportunities for general investors as well as local landowners.
“Solar trackers are proving to be an exciting opportunity to benefit from the Government subsidy where space is at a premium.”
(Hexhamcourant)
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