Loan funding sees export growth for North Lanarkshire engineering firm
A business loan from North Lanarkshire Council has helped a local engineering business to take its innovative products to wider markets.
Clearwater Controls Ltd in Cumbernauld secured £100,000 from Business Loans Scotland, administered by our the local authority’s enterprise team, as part of a larger funding package totalling £250,000.
The company has developed the ‘DERAGGER®’ anti-ragging device that monitors, detects and automatically alleviates blockages in waste water pumps.
The product has been used in Scotland for a number of years and has now begun to penetrate the US market. Pilot projects are underway around the UK, with further projects due to start in the US and Australia in the near future.
Simon Crompton, managing director of Clearwater Controls Ltd, said: “The DERAGGER is the only intelligent product of its kind available in the market, providing real-time detection of wet-wipe type obstructions.
“We know the impact our technology can have on the waste water sector, in terms of reducing cost, improving staff safety and reducing energy consumption and other environmental incidents. Business growth has been good in the past year, but this investment from Business Loans Scotland and North Lanarkshire Council is crucial in enabling us to scale the company and grow sales in the UK, USA and Australia.”
Clearwater Controls Ltd employs eight staff in Scotland and shares 40,000 sq ft industrial premises at Axis Park in Westfield, Cumbernauld with sister company ID Systems UK Ltd. ID Systems are a specialist telemetry provider to Scottish Water, providing offsite manufacture, fabrication and component assembly services. Both companies relocated to Cumbernauld from Grangemouth last year, bringing over 200 jobs to the area.
Loans of up to 50%, to a maximum of £100,000 are available from Business Loans Scotland to limited companies, social enterprises and partnerships with four or more partners. The funding can be used for working capital, purchase of plant and equipment or business property.