LED lighting firm secures £1.5m growth investment
MHA Lighting forecasts doubled turnover after investment from the North West Fund
Manchester-based LED lighting firm MHA Lighting is predicting rapid growth after securing a £1.5m cash boost.
The funding comes as a joint investment from Harwell Capital and the North West Fund, which was developed as a Joint European Resources for Micro to Medium Enterprises Initiative (JEREMIE) to support small and medium-sized companies based in the north west of England.
The company, which was recently contracted to fit energy saving lights at Manchester Airport, as well as 26 hospitals in north Devon, secured the funding from the £20m Energy and Environmental strand of the North West Fund.
Following the cash injection, MHA Lighting, which currently employs over 30 staff, is expecting turnover to double to £3m, as a result of planned research and development projects.
Managing director Tom Harrison commented: “This is a landmark investment which will enable us to take our business to the next level both in the UK and internationally.
“We will use the funds to invest in research and development and expand our manufacturing facilities even further.”