Firm gets funding boost for energy storage system
AN advanced manufacturing company in St Helens that has developed an energy storage system has received backing from Liverpool-based funding provider MSIF.
Heptron Manufacturing (UK) has invented a patented system which stores energy collected from energy generators such as solar panels, wind turbines and thermal systems.
The company was originally set up in 2004 by founder Gary Murphy, an electrical engineer. His premises were always cold in the morning but warm in the afternoon so he came up with a way of storing the heat for use the next day by converting the temperature differences into electricity.
He then found a way of storing the energy there and realised it could be used on a much larger scale.
Earlier this year MSIF provided a loan totalling £49,950 through The North West Fund for Micro Loans. This has now been used to buy materials and equipment to enable the company to begin manufacturing following significant interest from its prototype.
Murphy said: “We have been working with engineering companies across Merseyside to get this product to market.
“This product can be used for the domestic, commercial and utilities sector.
“We have had lots of interest from abroad and are currently in talks with a business in Saudi Arabia which owns a building fitted with 26,000 solar panels but no means of storing the energy this generates so they have no electricity at night.
“We are also in discussions with companies at home as well as the US and China.
“We have also received lots of interest from the offshore energy sector as well as smaller businesses who want to cut the cost of their energy bills.”
MSIF investment manager Sue Chambers said: “This is an exciting product which will considerably improve the return on investment of renewable energy systems. Gary has over 40 years’ experience in electrical engineering and has spent 7 years perfecting this design. He is very hardworking and passionate about this product. We wish him and the business every success.”
The North West Fund for Micro Loans is part of The North West Fund which is now fully invested. The finance is provided by the European Regional Development Fund and the European Investment Bank.
