Black Country loan fund pads up

LOAN fund provider Black Country Reinvestment Society has helped a Wolverhampton product designer bring his invention to market.

BCRS has assisted John Wood, managing director of Sprung Ltd, in developing a revolutionary knee cushion – Redbacks – that could help cut the number of knee injuries in the UK.   

Mr Wood, an established product designer and inventor, specialises in taking existing design principles and developing them for specific uses.  

Redbacks began life in 2007 as a shin guard for footballers but proved unsuitable and so Mr Wood investigated the use of lighter materials and came up with an alternative.

The knee cushions are manufactured from an engineering plastic called TPE (thermoplastic elastomer) and have the same qualities as rubber but will not disintegrate.

They are designed to fit around the knee and worn inside or outside of workwear. The pad inside is replaceable and the whole knee cushion is 100% recyclable.

The pads are injection moulded in the Czech Republic, however, the sleeve covering is made in Wolverhampton.

Mr Wood said the cushions could help prevent osteoarthritis and certain degenerative knee diseases.

The firm is looking to market the pads to various professions  including firefighters, plumbers, cleaners, telephone engineers, carpet fitters, soldiers and home nurses.
 
The firm, based at Wolverhampton Science Park is also trialling Redbacks with military contractors in Baghdad.

Mr Wood invested £13,000 of his savings in developing the pads and needed a further £12,000 from the banks to ensure the supply but was refused a loan because his credit rating was not high enough.

He therefore turned to the BCRS for help. It studied the business plan and allocated the cash.

“The loan has enabled me to launch my product, buy stock in and also market Redbacks at a trade show at the NEC,” said Mr Wood.
 
Tony Wood, BCRS business development manager, said: “Redbacks are an innovative product that we could see had a great future.

“We always take into consideration the character of the business owner, and when I met with John I was very impressed with his determined attitude to business. As a local loan fund run by local business people, we want to back winners who can build successful businesses.”