Company:Hubbard ProductsGrowing Business Fund £62,041
Developing new infrastructure and securing equipment to allow the business to be first to market
Faced with an opportunity to develop a ground-breaking new cryogenic refrigeration unit for food transportation, Pat Maughan of Hubbard Products, based in Ipswich, needed to act quickly to build a new infrastructure and secure specialist equipment that would allow the business to be first to market. With the help of New Anglia Growth Hub, Hubbard Products was able to secure valuable funding to develop a new more economical and environmentally sensitive refrigeration unit that is likely to be in high demand from the industry. Read on to find out how one of New Anglia Growth Hub’s advisers supported Pat’s plans.
With our help, secured Growing Business Fund for £62,041
Purpose of Grant – Purchase of storage tank, preparation of paint bay, new mezzanine floor, electrical work, compressed air system, testing equipment, mechanical fit out, office equipment, and IT upgrade. All expenditure relating to the manufacture of low emission Transport Refrigeration Units. Installation to take place at new business premises following relocation.
Employment of 12 new staff.
Ipswich-based commercial refrigeration manufacturer, Hubbard Products, has developed a revolutionary new refrigeration unit that is set to change the way food is kept cool whilst being transported. It has been helped by grant funding from the Growing Business Fund thanks to assistance from New Anglia Growth Hub.
Working with its engine partner Dearman, Hubbard Products developed a prototype zero-emission powered cryogenic transport refrigeration unit (TRU) for food transport using liquid nitrogen rather than the more traditional diesel-powered vapour compression system. The new TRU is more economical and environmentally responsible than the diesel-powered ones.
Having proved the system’s credentials, Hubbard Products had to build a manufacturing infrastructure to meet the expected demand for these new refrigeration unit engines.
Pat Maughan, CEO, Hubbard Products said, “There were a number of elements that we needed to account for in the build of the new infrastructure including the purchase of a new liquid nitrogen storage tank, the preparation of a paint bay, the construction of a new mezzanine floor and testing tank, electrical work, a compressed air system and testing equipment, mechanical fit-out, office equipment, training and an IT upgrade. The total expenditure was estimated to be over £600,000.
“Recognising early that what we were doing would be eligible for financial support was fantastic. From our experience, the Growth Hub showed a real understating of our business and the opportunities we faced and worked single-mindedly to help us take advantage of our market situation.”
Nigel Best, New Anglia Growth Hub Manager, said, “It’s fantastic when one of our region’s companies has such a massive opportunity to lead the market in new sustainable technology that will not only secure its future but also grow the number of jobs it can offer people. The units that Hubbard Products has developed will have a massive impact on the environment and the running costs for food distribution – a real win:win situation.
“We were able to support Hubbard Products and help to arrange part funding for the significant investment it had to make in creating a new infrastructure to manufacture the new units. I am delighted that New Anglia Growth Hub has played its part in getting these units to market.”
The diesel powered TRU is the trucking industry’s big challenge. While lorry propulsion engines are tightly regulated in the EU and increasingly clean, the secondary ‘donkey engines’ used to power TRUs on many trucks and all articulated trailers are effectively unregulated and emit disproportionate amounts of toxic air pollution.
Refrigeration accounts for around 20% of a truck’s diesel consumption and CO2 emissions. Over the course of a year, a modern trailer TRU emits six times as much nitrogen dioxide and 29 times as much particulate matter as the Euro VI propulsion engine pulling it around.
Anyone running a business who needs help to realise their growth plans should contact the New Anglia Growth Hub on 0300 333 6356 or email firstname.lastname@example.org.
If your business has ambitious growth plans and needs help with funding the vital components that would deliver them, we’d love to hear from you. Pick up the phone and call us on 0300 333 6356 and we will put you in touch with one of expert advisers who’ll arrange to come and meet you to discuss your plans.