GME Industry secures £100k as it eyes green energy market

The Durham-based firm has worked with NEL Fund Managers to secure £100k of investment from the North East Small Loan Fund

A North East electrical specialist has announced that it has received a six-figure investment as it looks to expand its green energy activities.

GME Industry, based in Durham, has worked with NEL Fund Managers to secure £100k of investment from the North East Small Loan Fund supported by the European Regional Development Fund.

The company is planning to use the investment to raise its share of the green energy market, potentially developing new electric vehicle networks and charging infrastructure.

It is also aiming to double its annual turnover this year, as well as expand its team.

Craig Morgan, co-founder of GME Industry, commented: We’ve built up a solid understanding of the different aspects of the energy efficiency market and a track record that shows we can deliver what clients want quickly and on budget.

Improving the UK’s electric vehicle infrastructure is one of the hottest topics in British industry at the moment and the conversations we’re already having on different projects in this area are extremely encouraging, he said.

The cost savings now available through retrofitting modern LED lighting systems into public buildings mean clients can get their money back in as little as a year, while also substantially reducing their carbon footprint, and we’re expecting to see many more organisations realising the long-term benefits of making this initial investment, Morgan said.

He said: We’ve set ourselves some ambitious growth targets for the next few years, but feel confident that we have the technical skills and commercial strategy required to meet them. We’d had a number of conversations with NEL about different ideas and when the time was right, the investment team was really supportive in helping us get things done.