Newcastle’s Sustinere Solutions to engineer ‘truly national’ growth with £350k boost

Tyneside engineering company Sustinere Solutions plans to grow its UK operation with the help of a six-figure investment.

The Newcastle-based company will use £350k from the North East Growth Capital Fund to increase its work in the North East and across in the North West, as part of a drive to become a more national operator.

To date, Sustinere UK has predominantly worked on large projects in London and the South East.

The company installs large-scale renewable energy solutions, including district heating systems and combined heat and power schemes, in industrial and domestic settings.

Sustinere is aiming to double its current turnover of £2.5m by the end of 2021.

Steve Wilkinson, Sustinere Solutions’ co-founder and managing director, said: “The renewable energy technologies that we specify and install make energy efficiency and cost savings both accessible and affordable for our clients, and we’ve quickly built up an impressive project portfolio that clearly demonstrates how effective our ideas are in practice.

“We want to become a truly national operator, and after the success we’ve enjoyed in London and the South East, it’s a natural next step for us to now build our presence in the North East and North West as part of this process.”

The North East Growth Capital Fund was set up to create around 790 jobs at over 70 regional firms. It offers unsecured investments of up to £500k.

The company running it, NEL Fund Managers, is looking for potential investees based in Tyne & Wear, Northumberland and Durham.

Mike Guellard, NEL Fund Managers investment executive, commented: “Sustinere’s expertise is helping to support the UK’s transition towards a low carbon economy and the impressive success of their business model provided us with a strong investment proposition.”