Member Article

Cable-Sense receives £800,000 green fund

Lancaster-based infrastructure company Cable-Sense has secured £800,000 of funding from the North West Fund for its development of systems to reduce energy use, capital expenditure and operation costs.

The North West Fund for Energy and Environmental offered up the fund, provided by the European Investment Bank and the European Regional Development Fund, to the business which was founded by Technical director John Kelly and Professor Tony Peyton in 2004.

Cable-Sense develops infrastructure management systems of their cable systems, and this innovative scheme has been recognised by the fund, which is made up of £650,000 from the North West Fund, and equity funding of £150,000 from UMIP Premier Fund.

The company hopes to expand its reach overseas and is working alongside the University of Manchester’s School of Electronic and Electrical Engineering to develop its products to achieve this goal.

Mr Kelly and Prof.Peyton also have hopes of tripling Cable-Sense’s turnover by 2014 after receiving the fund.

Cable Sense’s chief executive, Geoff Butcher, commented: “Working with The North West Fund for Energy & Environmental and UMIP Premier Fund will provide us with the resources to rapidly develop our business.

“Their knowledge and expertise in the green IT space has added tremendous value to our company.We are confident that we can fill a substantial gap in the market and develop both nationally and internationally.”

Cable-Sense’s board will be joined by Michael Bakewell, an investment manager at CT Investment Partners.

He commented: “The green IT sector is thriving at the moment because of the increasing pressures for businesses to adopt eco-friendly practices and reduce energy costs.

“Businesses are looking for ways to reduce costs more than ever before and Cable-Sense is dedicated to delivering significant savings across your cabling network.”

This was posted in Bdaily's Members' News section by Miranda Dobson .