Newcastle International Airport secured a £208m finance package to power ahead with a number of green projects.
The airport – the 11th busiest in the UK – has sealed the refinance package with four major lenders as part of its commitment to a number of sustainability targets, all in support of its Net Zero Carbon 2035 plan. The finance facilities also include a £15m green loan that will enable the airport to progress the next phases of its solar farm project, as well as its continued transition to electric vehicles.
Its huge solar farm will see a 16MW facility, comprising around 40,000 solar panels on 22 acres of land next to its runway – a move it is hoped will halt 150,000 tonnes of carbon dioxide being pumped into the atmosphere over its 37-year operation. The finance deal sees HSBC UK become a new lender to Newcastle International Airport’s banking club, alongside existing lenders ING, NatWest and Development Bank of Japan (DBJ). The airport said the extension has been agreed well in advance of the expiry of previous arrangements, and has been carried out with the airport’s advisors, NatWest, Allen & Overy, ING and HSBC.
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Mark Hunt, chief financial officer of Newcastle International Airport, welcomed the new finance deal. He said: “After the challenges of the pandemic, the completion of this refinancing demonstrates the confidence of our banks in Newcastle International Airport. These facilities will allow us to continue to invest in customer facilities and infrastructure, attract more new airlines and routes, and really push forward on sustainability and Net Zero.”
Cramlington based Quanta EPC, which also runs an Aberdeen office, has sealed two three-year framework extension agreements with customers, with an option to extend the contracts for a further two years. They include operations, maintenance, modifications, upgrades and all other engineering support for a number of offshore assets in the North Sea, to help drive efficiency improvements and reduce carbon emissions.
The company said the deal extensions mark the latest vote of confidence in the firm, which received multimillion-pound private equity investment in September, to help it accelerate growth plans in the hydrogen, carbon capture and offshore wind markets.
Nick Oates, CEO, said: “We are delighted to have secured these prestigious contracts once again with existing clients. Winning this work is testament to the high quality of our approach and our excellent working client relationships. We are looking forward to continuing the delivery of innovative engineering solutions and are excited to enter the next phase of our working relationship with these clients.”
Newcastle engineering firm Houghton International is set to invest in more staff after securing a contract with Lucchini Unipart Rail (LUR) worth over £1.3m.
The electro mechanical engineering firm, which has more than 120 staff at its Shields Road base, has sealed a two and a half year deal with the Manchester company, which will see it carry out traction motor overhaul and repair works. The firm said the contract secures a number of jobs within the business and has sparked further investment in recruitment.
Chris Robson, sales director at Houghton International, said: “Following a competitive tender process, we are delighted to have been awarded the contract to repair and overhaul traction motors for LUR. As passenger rail technology shifts from DC-powered motors to newer AC ones, this contract represents a milestone as the first volume AC traction motor workload for Houghton International. We are already working closely with LUR to optimise performance for these motors and will continue to do so throughout the contract.”
Football comparison site Footy.com secured £400,000 in investment to kick off more growth.
Durham based Footy.com – the winner of the innovation award at the Durham, Sunderland and South Tyneside Business Awards two years ago – is the UK’s leading price comparison website for football merchandise and sportswear. The firm was established in 2015 by five entrepreneurs, all of whom have been involved with a string of high-profile businesses across the region. The business helps customers throughout the UK, Europe and the US get the best pricing for trainers, football boots, football kits and sports clothing, providing access to thousands of products.
Now the company has secured the six-figure sum from the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures. The funding will help Footy.com to go ahead with its ambitious growth plans, building on recent expansion.
Chris Wilds, chairman and CEO at the company, said: “We have an ambitious vision to become the home of football. The next phase of the business will allow us to harness the power of our innovative technology, onboard more brands, retailers and clubs and expand into new markets such as ticketing, gaming and media subscriptions."
Liquid fertiliser manufacturer Brineflow sealed a deal to ensure the UK maintains a supply for nitrogen fertilisers at a time of global uncertainty in nutrition and food markets. Brineflow has created the strategic joint venture with German fertiliser giant HELM AG, a Hamburg producer with extensive liquid nitrogen manufacturing capabilities in Trinidad, which can ship large vessels to the UK from an area unconstrained by European gas shortages.
Brineflow is currently commissioning Phase Two of one of Europe’s largest deep-water liquid fertiliser terminals at Port of Sunderland and, together with a sister import terminal at Great Yarmouth, can supply farmers covering 90% of British crop producing areas. The company, which is headquartered in Great Yarmouth, identified Port of Sunderland due to its strategic location on the east coast and its access to key transport links.
John Fuller, chairman of Brineflow, said: “The multimillion-pound distribution and storage hub in Sunderland will be open by Christmas once final commissioning is completed. It will be able to receive some of the largest ocean-going vessels and represents an important piece of UK infrastructure.”
North East wind turbine installation and maintenance firm GO Wind is eyeing growth in Europe following a German contract.
The Tyneside-based contractor says it has completed installations for wind energy company Enercon and now has teams based in the UK and Germany. GO Wind managing director and founder, Paya Kolahi said: "This installation forms part of a multi-agreement programme with Enercon that will see us installing wind turbines, not only across the UK and Germany, but also across many other parts of Europe.
"We are very proud of the partnership we have with Enercon – and the many other major industry players we are installing on behalf of – and are very excited to roll out the extensive programme of installations for this leading wind energy company."
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