A major new capital investment fund delivered by the Marches Local Enterprise Partnership has awarded more than £600,000 to organisations across the region.
Six successful schemes will receive a total of £612,793 from the LEP’s Capital Project Fund to help them deliver projects which boost business, build skills and employability and drive the move to Net Zero.
Marches LEP chief executive Rachel Laver (pictured) said the fund had received 37 applications worth a total of more than £3million before it closed, showing the need for continued support to help get capital projects off the ground.
“We received applications from right across Herefordshire, Shropshire and Telford & Wrekin for the fund, which shows that there is a real appetite among the business community to build, innovate and play their full part in the move to a Net Zero economy.
“The fund was specifically targeted at projects which will help build the high-skilled and sustainable economy the Marches will need, as well as promoting long-term growth.”
Among the successful applicants, a Telford-based battery and renewable energy specialist received £60,000 towards the creation of a global Net Zero Portable Energy storage manufacturing and assembly centre, and worldwide franchise model showcase and Harper Adams University received an award of £143,942 to buy the specialist equipment it needs to offer microbiological testing services to small businesses in the food industry. In addition, a specialist biotech and nanotech company, which is based near Market Drayton, was awarded £28,630 to support the development of an innovative management system and Shrewsbury Colleges Group and Telford College received £235,000 and £141, 712 respectively.
Rachel added: “We are delighted that, even as the Marches LEP winds down, we have been able to continue our mission to drive forward our economy, help develop innovation and skills and support the need to cut emissions and improve sustainability.
“Each of these awards will play their own important role in that mission and we wish them every success as they build for the future.”
Following decisions by the government, The Marches LEP is being wound down with many of its responsibilities transferring to the three unitary councils in Herefordshire, Shropshire and Telford & Wrekin on April 1.
