MetLase, a South Yorkshire engineering solutions joint venture between Unipart and Rolls-Royce, has secured 400,000 to fund new product development.
The funding comes from the Sheffield City Region Mayoral Combined Authority’s Local Growth Fund.
It will be combined with £565,000 of the company’s own investment to provide a series of standardised industry 4.0 digital products.
MetLase has stated that it expects to create up to four new engineering careers in the first seven months of the project, whilst also safeguarding a further 10 jobs at the company.
James Muir, chair of the board of Sheffield City Region Local Enterprise Partnership (LEP), said: “We are delighted that MetLase will be able to take advantage of this funding, which was introduced as part of our efforts to deliver an economy that works for everyone.
“The government devolved powers directly from Whitehall to local people who know their areas best.
“Opportunities for growth are best identified by those with detailed local knowledge and the Local Growth Fund enables the Sheffield City Region to tailor transformational interventions to local circumstances.”
“We look forward to seeing MetLase build on its expertise to become a world-leading company offering smart solutions to manufacturing problems.”
Richard Gould, Business Development Manager for MetLase, added: “We’re delighted to receive this investment which will enable us to develop our standardised digital products to manufacturers.
“We’re really excited about what it means in terms of expanding our offer to the marketplace and ultimately being able to create even more high value advanced manufacturing jobs in our region.”