24 August 2010

£1.4 Million Company Expansion Plans

Ambitious expansion plans for a Cornwall-based company, Calidus Engineering, specialising in technology for the oil and gas and geothermal industries are to be supported by almost half a million pounds worth of ERDF (European Regional Development Fund) Convergence investment.

The project, worth almost £1.4 million, involves Calidus consolidating from three bases around Cornwall (in Falmouth and Redruth) to purpose-built workspace, at Treleigh, near Redruth, with facilities for research and development; a laboratory and manufacturing.

It is estimated that employees will increase from 26 to 50 and Calidus aims to double in size over the next two to three years. Calidus is matching £450,000 of ERDF Convergence investment with £920,000 of its own.

Nigel Halladay, managing director of Calidus, which was established in 2003, said, "This centralisation means that skilled jobs will be safeguarded and created and we can accelerate our research and development into new products.  The company requires an unusual mixture of facilities including a 200m deep borehole within the building for system testing.

"The funding is vital to the company development and triggers recruitment plans for the coming two years whereby we will be seeking skilled mechanical-, electronics-, software- and field/logging engineers. It is preferable that candidates have experience from developing equipment for harsh environments but not a necessity. More details can be found on our company website: www.calidusengineering.com

"Without the support of Convergence and the South West RDA teams, we would not have been able to contemplate such an ambitious expansion project. The grant expertise of Bishop Fleming was invaluable in guiding us through the detailed application process."

Carleen Kelemen, Director of the Convergence Partnership, added, "This is an excellent example of a Cornwall based business with global connections that is looking for high growth via its own research and development. The ERDF Convergence investment will provide the right environment to help support Calidus' ambitions."

Carolyn Rule, Cornwall Council cabinet member for economy and regeneration, said, "The private sector led economic recovery that is vital for the future of Cornwall is being pioneered by local businesses such as Calidus. This ERDF Convergence investment is helping this exciting engineering business bring together all its operations into a single hub as the basis for future growth here in Cornwall, based on global market opportunities."

Bishop Fleming assisted Calidus in obtaining the ERDF Convergence investment. Ewan McClymont, head of grant services for Bishop Fleming said, "Calidus is an exceptionally innovative company with strong R&D skills. We are delighted to have been able to help Nigel and his team secure the necessary grant funding that will take the company to its next level of high growth."

The new building which is being built by regeneration specialists Priority Sites Ltd as part of a £2.9 million investment in four new factory units, which is also being supported by £880,000 of ERDF Convergence investment. They will be designed to a BREEAM Excellent rating and will incorporate a host of sustainable and environmentally friendly features. These include high levels of insulation, energy efficient lighting, solar shading, aerated taps and leak detection to minimise water consumption, sustainable ventilation systems, landscaping designed to enhance ecology, use of locally sourced materials where possible and a SUDS drainage scheme.

This new workspace will also mean the company can expand from having a combined floor space of 7,000 square feet over three sites to 18,000 square feet in one area.

Paul Wilson, business investment advisor for the South West RDA said, "The GBI grant is there to support investment projects that will increase productivity, skills and employment - Calidus excel in all three of these areas, which is great news for the local economy."

Ian Whale, communities infrastructure manager for the South West RDA said, "This flagship office/factory building will incorporate a number of environmental features, and will be among the first to be awarded the BREEAM Excellent standard in Cornwall."

Neil Lindsey, European Team Director, at CPR Regeneration, the urban regeneration company for Camborne, Pool and Redruth added, "This project is a good example of how the public and private sectors are working together in the area to bring forward quality workspace that meets the needs of forward-looking businesses in growth sectors."