HSBC invests seven-figure funding into Selby-based generator manufacturer

Constant Power Solutions, a North Yorkshire-based generator manufacturer, is set to expand with the support of a seven-figure funding package from HSBC UK.

Established in 2013 in a garden shed, Constant Power Solutions (CPS) has grown to become a major manufacturer and developer of generators.

With the backing of HSBC, the business is continuing to grow by scaling up production with the purchase of a new 7,954 sq ft manufacturing facility in Selby.

Victor Wu, director at Constant Power Solutions, said: “We’ve come a long way since we started out and this new facility is key to ensuring we start the next phase in our growth strategy.

“With HSBC UK’s financial backing and international reach we now have the capacity and flexibility to grow our portfolio of customers both in the UK and globally.”

Following the investment, CPS expects to increase its production capability by a further 300 per cent to meet increasing demand from customers in the UK and overseas.

It currently exports 60 per cent of its UK-made machines, mainly to emerging economies in the Middle East and Africa. The business also plans to develop and launch a new gas-powered generator in the next 12 months.

CPS expects to increase turnover by 100 per cent and create up to four new jobs within the next year. In addition, the business has partnered with Selby College to create an apprenticeship programme.

Daniel Arnett, director at Constant Power Solutions, added: “Manufacturing in the UK has been, and will continue to be, key to our company’s growth and success.

“The UK is a world leader in the power generation industry and the new facilities we have agreed with HSBC UK have allowed us to continue to grow in challenging market conditions and attract new customers in both the UK and overseas.”