Reward helps tackle Olympic traffic challenge

A YORKSHIRE finance house is helping Olympic athletes and visitors find their way around the capital by backing a transport technology firm.

Reward Capital has agreed a funding deal with P&D Specialist Services that will allow it to supply mobile solar-power signs transmitting key messages to road users during the games.

P&D will supply Transport for London with 177 of the devices, sourced from Australia, thought to be the largest single deployment of “variable message signs”.

David Jones, partner at Leeds-based Reward Capital, said: “We were initially approached by P&D’s accountants to assist only with the deposits for the units but we had such confidence in the management team that we offered to provide a full funding package.”

Keeping London moving while ensuring athletes and officials can access venues on time is considered to be one of the biggest challenges facing Games organisers.

A network of dedicated Olympic lanes will be established on London’s roads for both the Olympics and Paralympics.

Pat Musgrave, managing director of Matlock-based P&D said: “The contract could not have been delivered without Reward Capital LLP. They helped us ensure the tight deadlines for manufacture of the units by our suppliers could be met by delivering an innovative funding package that really helped smooth the whole process.

“This manufacture, delivery and deployment project has been a fantastic achievement by all involved.”

Jonathan Simms, of Leeds-based law firm Clarion, acted for Reward Capital on the transaction.