Port of Blyth stepped up its journey to net zero on the back of funding deals totalling £12m.
The Northumberland offshore energy port is installing a host of clean energy measures with the Lloyds Bank funding, starting with the addition of a new electric crane to its fleet, to increase its capacity capabilities and reduce emissions. The Port has invested in a Konecranes Gottwald ESP.6 Mobile Harbour Crane, which has a 125-tonne lift capacity and eliminates carbon emissions.
It initially received £7.5m of funding from Lloyds Bank, which was used to construct new terminal infrastructure and additional warehousing while creating numerous employment opportunities. It then secured a further £2m of funding from Lloyds Bank this year, on top of a £2.4m facility secured from Lloyds Asset Finance, which has enabled the firm to purchase the new electric crane.
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Energy from braking and lowering movements by the crane can be recycled for other crane functions or fed back to the harbour mains. The new crane forms part of the port’s strategy to become as energy efficient as possible, by decarbonising all equipment including forklift trucks and cranes.
Oran Robson, finance director of Port of Blyth, said: “This latest investment marks our next step towards a greener future. By introducing more energy-efficient ways of working, we’re able to continually diversify our business and create new employment opportunities across the region."
North East subsea engineering firm Pharos Offshore landed £7.8m investment to fuel growth in its global market.
Blyth-based Pharos Offshore, which employs about 70 people, has received the package from alternative funder ThinCats in a move its CEO said would back ambitious growth plans. Pharos will use the injection to purchase new equipment, adding to its specialist offer which includes remotely operated submersibles.
The firm is looking to acquire trenching systems, cable ploughs and other ancillary equipment to use for contracts around the world, including from its base in Singapore. CEO Phil Walker said: "The market for trenching services is growing at an incredible rate.
"Project success is in our DNA and with this new funding we will be able to offer our groundbreaking agile solutions to even more clients in their key markets around the world. Thank you to Dave, the team at Bridge and York for supporting our vision and backing our ambitious growth plans."
Jobs were saved at Northumberland building supplies company Wack Wholesale following the rapid sale of the business to new owners.
Wack Wholesale (Building Supplies) Ltd, based on the Nelson Industrial Estate in Cramlington, had grown to become one of the UK’s largest buyers and sellers of building materials since it was incorporated in 2010, but it ran into financial difficulties this year due to the impacts of Covid on cashflow and the supply chain.
Administrators with Leonard Curtis business rescue and recovery secured a quick sale to new owners, protecting 14 jobs at the company. All staff transferred under TUPE to the buyer. Under the terms of the sale the buyer and deal value is confidential.
North recruitment company Brownlee Cale is set for growth across its two offices on the back of a seven-figure funding package.
Brownlee Cale was formed in June following the merger of former rivals Tech Search Associates, based in Leeds, and Brownlee Dean, based in Newcastle. The firm specialises in temporary and permanent recruitment, contracting and consultancy within civil engineering, mining, facilities management, mechanical and electrical, construction, logistics, and distribution.
The combined business plans to grow its established consultancy services while also increasing turnover in the coming years, with support of its workforce of 22 people across three offices in Leeds, Birmingham and Newcastle. The company has now received funding from HSBC UK to support its plans for global growth, as well as expansion of its mining services.
Directors said they plan to use the finance to back plans to harness its UK mining engineering expertise and apply it to mining sectors around the world. As a result of the deal, directors said they expect to see a £5m increase in turnover over the next year and a four-fold increase in staff based in its Leeds and Newcastle offices.
Subsea offshore specialist TechnipFMC won a ‘significant’ contract worth more than £60m which will support work at its Tyneside yard.
TechnipFMC, which has bases in Walker, Newcastle, and Houston, US, announced it has been awarded an engineering, procurement, construction and installation contract by Shell for the Jackdaw development. The Jackdaw field, based around 250km off the coast of Aberdeen, Scotland, sits next to the UK/Norway median line in the North Sea.
The contract covers pipelay for a 30km tieback from the new Jackdaw platform to Shell’s Shearwater platform, as well as subsea structures, umbilicals and other vital equipment. The deal value has not been disclosed, but TechnipFM said that a significant contract for the company is between $75m and $250m (£67.1m to £223.6m).
Jonathan Landes, president of subsea at TechnipFMC, said: “We’re excited to embark on this significant project together in the UK North Sea. Our strong technical record and our ability to design, engineer, construct and install were key to our success in winning this award.”
North East financial tech group Sage acquired Bristol carbon accounting company Spherics in an undisclosed deal.
The Cobalt based business swooped for Spherics in a deal which it says reinforces its commitment to sustainability. Spherics helps businesses understand and reduce their environmental impact, through a solution that automates the process of calculating emissions, taking data from its accounting software and creating initial estimates of their carbon footprint.
The software helps customers to refine estimates by submitting further data for a more accurate calculation, helping SME clients on their way to net zero. Amaya Souarez, EVP cloud operations, Sage, said: “We know that SMBs care about the impact they have on the environment, and our research shows that they want to work with suppliers and partners that can help them understand and address it.
Professional Security, based in Leeds, strengthened its position in the hospitality security sector after acquiring Newcastle based Phoenix Security. Launched in 2005, Professional Security operates nationwide across the hospitality, leisure, retail and public sectors, with independent, regional and national operators in the UK. The business said it has seen transformational growth over the last few years, with established hospitality security and guarding divisions.
Phoenix Security, meanwhile, was established in May 2000 by managing director Steve Howe and has door supervisors working across the UK from Aberdeen to Southampton. The company has clients including McDonalds, KFC, Stonegate Group, Revolution Bar Group, Turtle Bay, Lane 7, Roxy Leisure and Mojos.
The deal, which Professional Security said marks the biggest acquisition in its history, creates a combined workforce of over 10,000 frontline personnel and will see Professional Security integrate the full Phoenix operations team into its four regional operational teams.
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