£150,000 grant boosts hopes of new projects
COUNTY Durham tech firm Filtronic has boosted its capabilities with a £150,000 grant from Business Durham.
The Sedgefield-based telecoms specialist is using the funds from Durham County Council’s business support service to enhance its plastic encapsulation capabilities, a move which will allow it to bid for new projects and customers in aerospace, space and defence markets.
It has invested in equipment at its NETPark base which will allow it to offer fully moulded plastic packaging for its high-performance RF components, which means it can provide smaller package solutions with lower weight, thereby reducing costs for customers who want to avoid long supply chains and offshore manufacturing.
Michael Tyerman, chief financial officer at Filtronic, said: “The North East is an innovation hub for electronics, with strong credentials in critical markets including defence and space. We are pleased to have been successful with our investment business case. Business Durham Growth Fund are big supporters of Filtronic, the work we do and the value we bring to not only the NETPark ecosystem but the wider regional economy.”
Sarah Slaven, managing director of Business Durham said: “We are delighted to support Filtronic, recognising the impact of their products developed and produced at the North East Technology Park (NETPark) in Sedgefield. Filtronic’s investment in plastic encapsulation not only enhances their competitive edge but also bolsters the broader growth of the North East’s electronics industry.
This technological advancement positions Filtronic to secure new opportunities in aerospace, space, and defence, fostering job creation and reinforcing the region’s innovation hub.
“Although the County Durham Growth Fund has now closed, we know how important capital grants like this can be to enable innovative businesses like Filtronic to invest in growth opportunities.
“Therefore, we are pleased to have been able to build on this experience to set up a new Durham Business Growth Programme.
“This program provides an integrated package of growth and productivity support including capital and revenue grants to help companies like Filtronic that are looking to expand, create jobs, and contribute to the region’s economic development.
“Filtronic’s success will undoubtedly inspire other companies in County Durham to take up the support on offer.”
The County Durham Growth Fund was an £8.9m scheme providing grants to SMEs in County Durham to accelerate their growth, secured from the European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme.
Since its closure, new fund Durham Business Growth has been launched with an £8.16m war chest to plough into ambitious companies looking to grow.