Grant gets Transmission Dynamics' building back on track
A £500,000 grant from the North of Tyne Growth Fund (NTGF) is helping Cramlington-based Transmission Dynamics to build a new hybrid office, warehouse and engineering facility to accommodate its expanding team and realise its growth potential, with 50 new jobs on the horizon.
The North of Tyne Growth Fund is a £4.6m European Regional Development Fund that aims to support SMEs across Northumberland, North Tyneside and Newcastle local authority areas to create employment and stimulate business growth. Delivered by UMi, this project is part-funded by the European Regional Development Programme 2014-2020 and part of a £19.75m package of business support mobilised by North of Tyne Combined Authority. All successful grants applications are appraised by UNW LLP, an independent firm of chartered accountants and business advisers.
Transmission Dynamics has its roots in engineering consultancy and has evolved to offer multi-disciplinary industrial Internet of Things (IoT) products and engineering analysis services. The team combines human and artificial intelligence (AI) to solve complex engineering problems using innovative wireless remote condition monitoring solutions, which they design, manufacture and operate in-house.
The business has a highly scalable offering and significant growth potential with an exceptionally high level of enquiries from all industrial sectors, but the team is outgrowing their existing premises, limiting its progress towards the company’s goals.
Jarek Rosinski, CEO of Transmission Dynamics, employed Ryder Architects a year ago to draft plans for the unusual building. He wants the building to enable the team to conduct research and development (R&D), manufacture their innovative sensors, crunch data and do the creative thinking required to provide ground-breaking solutions to their clients – all under one roof. But he hit a financial block that put the plans on hold.
“The banks could see the potential, but because it’s a bespoke building there was more risk attached on the resale value, so not enough security. We couldn’t solely fund the growth ourselves”, Jarek explained.
Northumberland County Council directed Jarek to the newly-launched North of Tyne Growth Fund, where to his relief, he found the help he needed to get the project going again.
“Our advisor really believed in our case, taking a genuine interest in our business”, Jarek said. “He made the process very painless and wanted to help. We were able to make a strong case for exceptional circumstances to apply for double the normal maximum grant of £250,000.”
The building will be a £2.3m construction project, which the £500,000 grant will help to fund. With a further £1.8m investment in plant and machinery, Transmission Dynamics expects to invest c£4.8m in the project – a significant investment in its business and the region.
Mike Baker, Senior Project Manager for the North of Tyne?Growth Fund, said: “It has been a pleasure to support Jarek and the Transmission Dynamics team in their application.?This significant investment will secure the company’s growth for many years, enabling it to have a greater impact nationally and internationally, as well as bringing skilled jobs to the region.”
North of Tyne Cabinet Member for Economic Growth and Deputy Mayor of North Tyneside Council, Cllr Bruce Pickard, said: “This is exactly the kind of new and locally-driven initiative we’re so keen to see in the North of Tyne. We are proud to have been able to make this significant investment.
“It will help Transmission Dynamics create 50 jobs and see the creation of new premises and a state-of-the-art engineering facility that will enhance the region’s flourishing manufacturing and tech economy.
“We are absolutely committed to ensuring the North of Tyne not only recovers from COVID-19 but comes back even stronger, as a great place to live, work, and do business.
“Investments of this kind through the North of Tyne Growth fund will be key to how we achieve this.
“I’d urge anyone keen to see their business develop to contact us for help to take those vital next steps.”
John Healey, Corporate Finance Partner at UNW LLP, said: “Transmission Dynamics is an excellent example of how the North of Tyne Growth Fund can support innovative companies with ambitious growth plans.”
Jarek is excited about growing his current team of 25 in Cramlington. “We’ll be creating 50 new jobs and hope to attract talent from outside of the region as well as in the region”, he explained. “These will be highly-skilled roles for data analysts, software developers, mathematicians, electronics and mechanical engineers. They will have the opportunity to work on cutting-edge developments in an environment where creativity is central to everything we do”.
It is this ability to work creatively across disciplines in a single building that enables Transmission Dynamics to work on projects that result in disruptive technologies.
“Our IoT devices are installed in rail gearboxes, pantographs, escalators, engines, transmissions, wind turbines; and more. Our experience in complex problem-solving drives our services to revolutionise remote condition monitoring and asset management”.
“We create new data and critical insights by designing bespoke sensors and instrumenting challenging industrial applications. Our telemetry systems are used to recover in-service data from the most demanding industrial applications and environments. Using our Global Data Network® and intelligent data automation we monitor assets globally from the convenience of any mobile office. We employ our down-to-earth engineering know-how and diagnostics routines, supported by intelligent pattern recognition and advanced AI routines, making our systems future-proof and self-learning”.
Transmission Dynamics is joined in the first round of successful applicants by Norfran Ltd, a precision aluminium and zinc diecasting company, and Datatron, a document management specialist.
For more information visit: https://www.northoftynegrowthfund.co.uk/