8th December 2006
CAT45
TURBINE EFFICIENCY POWERS AHEAD
A Lincolnshire-based company specialising in the supply and overhaul of industrial gas turbines is going from strength to strength within its ‘niche’ marketplace.
Turbine Efficiency Ltd was founded by managing director Alan Hawkins in January 2001 and deals in both onshore and offshore oil applications. In 2003, the company received £250,000 from the East Midlands Regional Venture Capital Fund managed by Catapult Venture Managers.
Comments Alan Hawkins: “This money was used to further expand the business including the recruitment of new staff. There are not many players in our market and the people working within it need to be very knowledgeable with a high degree of expertise.
“We now have 12 staff and are a truly international company, with a wholly owned subsidiary in Beunos Aires. We currently maintain Tornado, Typhoon DLE and TB5000 gas turbines installed in blue-chip clients both onshore and offshore within Europe. Now, we are looking to start gaining orders in the Far East.
“Our services range from consultancy and parts supply to the sale of complete gas turbine maintenance support packages,” he said.
Turbine Efficiency designs, manufactures, installs and supports its own unique water injection system for reducing nitrous oxide emissions. The company also has an online worldwide spare parts database.
Pete Le Noury, Investment Director at Catapult commented: “Turbine Efficiency is absolutely the type of opportunity which we want to back. It has an excellent management team and a blue chip customer base.
“As with all early stage companies there is a need to demonstrate to their type of target customer that they are not ‘here today and gone tomorrow’ before they can pick up large recurring contracts.
“The management team at Turbine Efficiency recognised this as an issue at an early stage and went about seeking out an investor that would give reassurance to customers, but also allowed the company time to prove its capabilities to those blue chip customers.
“Turbine Efficiency is currently expanding its customer base both in Europe and the Americas and is well positioned to develop other prime markets such as the Far East.”
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For further information please contact Alan Hawkins at Turbine Efficiency on 01522 696980; mobile 07799 675870, Pete Le Noury at Catapult Venture Managers on 0870 116 1600 or 07711 788975; or Paul Shrimpton at PSPR Ltd on 0121 354 7311 or 07979 595322.
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