Yorkshire engineering firm secures £400k funding for product development
A Yorkshire engineering solutions firm has announced that it has secured £400k funding to develop new products.
MetLase, based in South Yorkshire, provides bespoke engineering solutions to complex industrial problems, and has secured the £400k funding through the Sheffield City Region Mayoral Combined Authority’s Local Growth Fund.
The funding will be combined with £565k of investment from MetLase, a joint venture between Unipart and Rolls-Royce, to provide a series of standardised industry 4.0 digital products.
MetLase has said that it expects to create up to four new engineering careers in the first seven months of the project, whilst also safeguarding a further 10 jobs at the company.
James Muir, chair of the board of Sheffield City Region Local Enterprise Partnership (LEP), commented: “We are delighted that MetLase will be able to take advantage of this funding, which was introduced as part of our efforts to deliver an economy that works for everyone.
“The government devolved powers directly from Whitehall to local people who know their areas best.
“Opportunities for growth are best identified by those with detailed local knowledge and the Local Growth Fund enables the Sheffield City Region to tailor transformational interventions to local circumstances.”
“We look forward to seeing MetLase build on its expertise to become a world-leading company offering smart solutions to manufacturing problems.”
Richard Gould, business development manager for MetLase, added: “We’re delighted to receive this investment which will enable us to develop our standardised digital products to manufacturers.
“We’re really excited about what it means in terms of expanding our offer to the marketplace and ultimately being able to create even more high value advanced manufacturing jobs in our region.”
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