Yorkshire firm wins prestigious prize for electricity generation technology
Elland-based green energy business FeTu has won one of applied physics’ most prestigious
accolades, the Institute of Physics Business Innovation Award.
The award recognises the company’s work in developing technology converts low-
temperature waste heat into electricity, and building it into a viable commercial enterprise
with a product that the IOP judges described as a “revolutionary heat engine”.
FeTu technology enables industrial firms to recover their waste heat and convert it to electricity, vastly reducing both energy costs and carbon emissions.
Founded in 2016 by Yorkshire-born designer Jon Fenton, FeTu has grown to a team of 15, securing over £12m in sponsorship, investment and grants. In October the firm established a new manufacturing arm in Huddersfield to enable the commercial roll-out of its clean-energy technology with a pan-European pilot programme. A group of blue-chip food production firms, data centres and industrial manufacturers are rigorously trialling the product this winter.
Mr Fenton said: “It is a real honour to receive this award. FeTu is a beautiful example of British ingenuity, overcoming the impossible to enable access to abundant green energy sources that already exist.
“Our ability to generate electricity from heat sources as low as 40°C is a critical development for the UK to recover £4bn in industrial waste heat into free, green electricity.”
Local authority backs small farms with funds from council reserves
Lincolshire County Councillors are to offer more financial support to family farms and to write to Government to express concern about the impact of recent government announcements on family farms and businesses in Lincolnshire.
The money will come from council reserves to support the Lincolnshire Rural Support Network and the Business Growth Hub.
Council Leader Martin Hill said:“We have a proud agricultural heritage and landscape in Lincolnshire and our farms contribute strongly to the nation’s food needs.
“With so many agricultural and food manufacturing businesses, we’re concerned about the impact of some of the recent government announcements.
“Today, we pledged to do all within our powers to protect our farming community, including urgently writing to the government to explain the impacts on removing Inheritance Tax Relief on farmland and restrictions on Business Asset relief.
“The removal of these, combined with employer National Insurance increases, will have a devastating impact on small farms and businesses which are the heartbeat of our county. On top of the other pressures facing the industry, including through new environmental legislation, many may not survive in the future.
“With this and plans for massive amounts of industrial infrastructure including pylons, huge solar farms and onshore wind turbines with no direct benefits to our residents on top of increased house building, it is no surprise that rural counties like Lincolnshire are feeling under threat.
“The future of our own finances is also uncertain with the recent announcement of the £9.4m Rural Services Delivery Grant removal by government. However, we have committed to increasing our financial support to the Lincolnshire Rural Services Network who help farmers with a whole range of issues, and to Business Lincolnshire to provide more specialist Growth Hub advice to small rural businesses.”
HBD and Feldberg Capital launch Origin mid-box industrial and logistics platform seeded with c.£100m development portfolio
HBD, the property investment and development arm of Henry Boot, has formed a UK focused industrial and logistics platform in joint venture with Feldberg Capital, the specialist in rapidly scaling sustainability-focused real estate ventures in high-growth sectors.
The platform will be known as Origin, with seed assets including the first phase of SPARK, a major employment scheme in Walsall.
With a GDV of £53m, the 13-acre first phase of SPARK has full planning consent and comprises two units totalling 270,000 sq ft. Work will begin on the construction of the first phase in February 2025.
Origin, subject to market conditions, intends to deliver circa £1bn of high-quality industrial and logistics schemes across the UK over the next seven years. Alongside SPARK, two further HBD schemes will be among the seed assets; ARK, a new £19m GDV development at Markham Vale in Derbyshire, and INTER a £27m GDV development in Welwyn Garden City.
All three initial sites have the potential to deliver around 450,000 sq ft of prime industrial and logistics space, with the construction of each to commence in H1 2025 for delivery from H2 2025. All developments will target market leading ESG credentials, including BREEAM Excellent and EPC A.
The venture will draw on both HBD’s development pipeline as well as acquiring sites from third parties for further pre-let and speculative industrial and logistics development.
Ed Hutchinson, Managing Director of HBD, said: “We are delighted to be able to announce the launch of Origin which will strategically help HBD to expand its industrial and logistics pipeline across the UK.
“The first phase of SPARK is one of the seed assets within the new venture, with the first two units expected to start on site early next year. Feldberg Capital share our commitment to ESG and sustainable development and SPARK is no exception, with net zero carbon, BREEAM Excellent units ready to occupy from H2 2025.”
David Turner, Managing Partner at Feldberg Capital, said: “Having held back from the industrial and logistics market while assets looked overpriced, we believe now is a highly attractive entry point, with land values having come down over the last 24 months and entry yields being at more sustainable levels.
“The positive tail winds within the sector remain, driven by structural trends including the continued growth of e-commerce and more firms serving the UK market looking to ‘onshore’ their production here in the face of a shifting regulatory and geopolitical backdrop.
“Our aim is for Origin to become a market leader in the mid-box space. We’re excited to be working together with HBD, using our tried-and-tested ESG framework to deliver the next generation of units for modern, environmentally responsible occupiers, and driving strong risk-adjusted returns for our investors in the process.”
Origin is immediately well capitalised and will own and develop next generation, ESG compliant industrial and logistics assets, predominantly in the mid box market, across the UK. The venture will be seeded with an initial portfolio of three sites from HBD’s pipeline with a combined GDV of c.£100m (HBD share: £25m).
HBD has a 25% share of the joint venture, while Feldberg Capital will hold a 75% share. HBD will be the development manager, receiving a fee for doing so, and Feldberg Capital will act as investment manager.
Shoosmiths and Linklaters advised Feldberg Capital and HBD was advised by Pinsent Masons.
Major expansion set for Production Park
Production Park in West Yorkshire is making its most significant investment so far with a major expansion of its facilities. By 2025, the campus will grow to 145,000 square feet of state-of-the-art studio space, solidifying its position as the largest production studio campus in the North of England.
This expansion reflects the increasing demand for cutting-edge production spaces. The newly acquired space will include four additional production studios tailored for live music and film, as well as expanded facilities for education and collaboration with supply chain partners.
Production Park’s expanded facilities will enhance its ability to host live music rehearsals, TV, film, and commercial productions, as well as specialised education programmes. The Academy of Live Technology, housed within the park, will benefit from a larger campus to deliver innovative training programs, preparing the next generation of professionals in live entertainment and creative industries.
Additionally, the new space will provide room for supply chain partners, encouraging closer collaboration and boosting the efficiency of the live events ecosystem.
Tracy Brabin, Mayor of West Yorkshire, said: “This expansion solidifies Production Park’s reputation as the leading live experience production hub in the North of England, and one of the best and the biggest in Europe.
“As a major player in driving the success of our creative industries, this game-changing investment will pave the way for even greater innovation and collaboration, attracting world-class TV, film and live productions to our great region to create jobs and grow the economy.
“With this expansion, Production Park will boost the opportunities for creative talent to thrive in West Yorkshire for generations to come, helping us create a stronger, brighter region.”
Councillor Michael Graham, Wakefield Council’s Cabinet Member for Regeneration and Economic Growth, said: “Production Park’s reputation in the industry is second to none in Europe. And it’s fantastic to have a locally based business at the very top of its game.
“Expanding its facilities can bring even more business into our district, which means more jobs and investment locally.
“I was delighted to agree the £3.2m funding that will keep Production Park going from strength to strength. And continue to grow Wakefield and West Yorkshire’s reputation as the home of world class creative industries.”
Lee Brooks, CEO of Production Park, said: “Production Park’s expansion represents a transformative step forward for our business and the creative industries.
“By increasing our studios offering to 145,000 square feet, we’re not only enhancing the scale and scope of services we provide but also firmly positioning Production Park as the largest multi purpose production campus in the North of England.
“This investment ensures we can meet the growing global demand for world-class production facilities while fostering closer collaboration within our ecosystem of live events, music, and TV & film production. It’s a testament to our vision of delivering unmatched value to our clients and partners.”
The phased expansion will begin in early 2025, with the first new studios for live music and film production expected to open in the second quarter of the year.
Wakefield cyber security firm secures backing for growth
Palatine Growth Credit’s Growth Credit Fund has completed a deal to provide growth capital to tech businesses Talion, a BAE Systems spin-out.
Headquartered in Wakefield, Talion provides defence industry-grade cyber security services to large corporates around the world.
Employing security, information and event management (SIEM) technology and a designated Security Operations Centre (SOC), it offers end-to-end cyber services including threat detection and response, dark web tracing and sensitive data storage.
The business was originally established as BAE Systems’ Cyber Security Unit, set-up at the request of the UK Government to provide critical infrastructure protection for the 2012 Olympic games. In 2020, Talion was formed through a management buy-out led by Keven Knight and Mike Brown. It has grown to annual revenues of £7.5 million.
Palatine are providing the business with £3 million of growth credit to support Talion’s organic growth and team expansion. The business also has VC backing from Mercia Asset Management.
Ryan Sorby, Partner and Head of North at Palatine Growth Credit, said: “Talion has an exceptional product which provides a best-in-class, end-to-end cyber security for a high-profile and distinguished client base.
“Cyber security is a competitive and growing market and Talion is a genuine front runner focussing on continuous product innovation and exceptional client service.
“We’re thrilled to have completed Palatine Growth Credit’s first deal in West Yorkshire.”
Mike Brown, CEO at Talion, said: “Talion is thrilled to have Palatine’s support as we look to increase our headcount further and accelerate our growth within the cyber security industry.”
Palatine received legal support from Anna Robson and the team at Shoosmiths.
Lindum Group gets permission for Newark development
Lincoln-based Lindum Group has been granted outline planning permission for a commercial development at Overfield Park in Newark.
The consent allows up to 130,000 sq ft of industrial, storage, distribution, R&D and office space, where it is expected up to 120 new jobs will be created.
Overfield Park is a 21-acre site off Godfrey Drive, at the intersection of the A1, A17 and A46, which presents an ideal opportunity to create high quality business units with national transport connectivity.
Newark and Sherwood District Council’s planning committee approved the development, with detailed design for individual units, including sustainable build features such as solar panels, low carbon materials and EV charging points, to be submitted during the detailed design stage.
Travel plans will also feature in future reserved matters planning applications, to help promote and secure sustainable travel provision for site occupants.
Dean Bower, Senior Development Manager, Lindum Group, said: “This is another big milestone at Overfield Park, adding to the previously developed Farol dealership, Wirtgen UK head office and Starbucks restaurant.
“New build development of this bespoke nature is limited in the area and this planning permission will allow further high-quality complimentary development to be delivered in the next 12-18 months to meet occupier demands.”
Fresh merger expands Lincolnshire accountants’ footprint
Lincolnshire’s Streets Chartered Accountants has established Streets Dyke Ruscoe Limited following the merger of the well-established Shropshire and Worcestershire practice of Dyke Ruscoe Chartered Certified Accountants with Streets.
This latest merger sees Streets establish a greater footprint in the West Midlands, close to the Welsh border.
When asked about the merger Carl Davies, Director of Streets Dyke Ruscoe, based in its Ludlow office, said: “Dyke Ruscoe was established around the late 1920’s and has since this time been a local presence in Ludlow, Tenbury Wells and Craven Arms.
“As part of our own succession and growth strategy we have for some time been considering options for the future. Whilst we operate within the West Midlands and the Welsh Marches area, we recognised the opportunity to grow the practice into Wales and across the West Midlands. In part, the barrier to our growth, has been our size and structure, we therefore had to become part of something bigger.
“We are therefore delighted to have merged with Streets, whilst we considered a number of options, we believe that we have found our perfect partner. The Streets philosophy and outlook is similar to ours and they were keen to retain our sense of being a part of the local community and standing something that has been established over the years.
“It was also important for us to continue to be able to provide our services in a relatively unchanged environment with the same great team engaging with our clients.
“In an increasingly competitive market and with growing client needs we are, through joining up with Streets, pleased to be able to offer a greater breadth of services, including more specialisms like personal and corporate tax advice, banking and finance along with other services we have historically had to outsource.
“We are also especially pleased to announce that following the merger we are now able to service the needs of clients who require an audit as these can now be looked after Streets dedicated audit team and practice which acts nationally for groups, large companies, subsidiaries and charities.
“It truly does seem to be a partnership of like-minded people with similar principles to face not only the future and challenges together, but also the great opportunities that exist. Together we can achieve growth not only for ourselves, but for our staff, existing and prospective clients.
“Following the merger, we are delighted to announce that Charlotte Beamond has joined the directorship of the company, following the retirement of Peter Reynolds, we wish her every success in fulfilling her role.”
Looking at what the merger means to Streets, the firm’s Managing Partner, Paul Tutin, said: “We are delighted to have Carl Davies along with fellow directors Brydie Prime and Charlotte Beamond and their colleagues join the practice. It is especially pleasing to see and experience the mutual benefits and synergy to be had through firms like ours coming together.
“Whilst this year has seen our significant growth come about through the merger of firms located in Yorkshire, the East of England and the South West we are particularly pleased to have ventured further into the West Midlands. This is in keeping with our strategic intent to be a truly national and even UK practice.
“We continue to find that firms we talk to and that merge with us like our approach which is very different to the private equity led deals, as we seek to build on the success of the existing practice and empower individuals to drive and lead on their future growth and success.”
Streets Law, the firm’s dedicated corporate and commercial law offering led by Managing Director and Solicitor, Adam Aisthorpe, undertook the legal work on behalf of Streets for the merger, including drafting the sale and purchase agreement and dealing with the due diligence process in collaboration with internal colleagues in the tax and audit teams at Streets.
Eminox names Andy as new Business Unit Director
Andy Sloan has joined Gainsborough-based Eminox as Business Unit Director assuming responsibility for its overall performance and success.
In this newly created role, he’ll also be responsible for delivery of new product development, leading the Eminox core engineering and project teams.
He said: “I am very pleased to join Eminox and embark upon the next chapter of my career with such a forward-thinking business which is pivotal in developing technologies for a greener planet. This is fantastic new role, and offers a unique opportunity to lead a dynamic team, drive strategic initiatives, and contribute to the company’s growth and success through stakeholder engagement.”
Andy joins Eminox from Magtec where he has led engineering and project teams alongside more broad base business managerial roles, including commercial developments and project execution in the rail and defence sectors.
Eminox Group MD Jonathan Griffith said: “I have every confidence that Andy will make a huge contribution to our ongoing and future success, and I look forward to working with him to bring more developments for exhaust aftertreatment systems and emissions solutions.”
2025 Business Predictions: Barry Jackson, Head of North at BGF
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Barry Jackson, Head of North at BGF, the growth capital investors.
An uncertain economic backdrop has created challenging market conditions in 2024 that will undoubtedly stretch into 2025. However, despite the pressures being felt across the region, it’s encouraging to see that businesses with ambitious management teams and robust growth plans have still been able to grow, raise funding, or execute M&A in the last 12 months.
We anticipate this trend to continue in 2025. While the headwinds remain, those Yorkshire businesses that display resilience and ingenuity will find ways to get deals done in 2025 and reach their growth targets. This also goes beyond the Yorkshire borders, with potential across the North. The North West and the North East have also continued to be active on the deals front in the last 12 months. Combined, they will strengthen the prospects of the wider Northern region.
What is encouraging to see is the breadth of Yorkshire deals being executed – not just in key locations, such as Leeds, but across North, South and East Yorkshire. Our portfolio certainly reflects this spread of activity.
What’s particularly pleasing is how active the region’s tech businesses are – from an acquisition perspective, as well as the growth and levels of innovation being achieved. Unsurprisingly, an increasing number of businesses are also using technology to scale. This is a trend that will only accelerate in the coming 12 months and beyond, as companies look to push boundaries and seek operational efficiencies.
This is particularly pertinent when you take into consideration the raft of tax rises announced in October by the new Labour government, including National Insurance Contribution (NIC) increases. While for some businesses, these changes may prompt a renewed focus on ways to improve productivity through investment in tech/AI and automation; for others, the tax rises represent a significant challenge that will need to be navigated in 2025.
While regional companies have had to contend with ongoing pressures in 2024, many have shown a huge amount of tenacity and ambition, digging deep to create long-term value in their business. That value has been realised not just through M&A activity, but as a result of organic growth and a desire to build national and international brands that are firmly rooted in Yorkshire. In the coming 12 months, notwithstanding economic pressures, we expect good businesses to continue to thrive.
Government gives green light to Equinor CO2 storage scheme
Two of Equinor’s partnership projects have been approved by the Government and will become a reality marking a major milestone in the UK’s £4billion Carbon Capture and Storage plans.
The announcement means the country’s first carbon storage facility has been given the go-ahead to capture millions of tonnes of CO2 and store it under the North Sea, thereby helping to clean up some of Europe’s biggest carbon producing areas.
The North Sea is thought to be an ideal geological location for carbon capture, where disused oil and gas aquifers will be used to store CO2 emissions from heavy industries.
The Hull & Humber Chamber of Commerce has been a strong backer of Equinor’s plans and has supported their efforts in lobbying the Government to get the schemes in Teeside and the Humber approved. Chamber Chief Exec Dr Ian Kelly said: “This is great news for the Humber and for Teeside as well. When we hosted the then Shadow Energy Secretary Ed Miliband at the Chamber in Hull we impressed upon him the urgency of bringing this scheme to the fore if the UK is to meet its 2050 net zero targets.”
Now the Energy Secretary in the new Government, Ed Miliband said: “This investment launches a new era for clean energy in Britain – boosting energy security, backing industries, and supporting thousands of highly skilled jobs in Teesside and the North East.
“This is the Government’s mission to make the UK a clean energy superpower in action- replacing Britain’s energy insecurity with homegrown clean power that rebuilds the strength of our industrial heartlands.”
Richard Royal, Head of Public Affairs & Communications for Equinor, said: “This is fantastic news and a very important step for the low carbon energy industry, establishing the very first carbon capture and storage projects in the UK. Whilst this announcement relates primarily to Teesside, it also helps to unlock and speed up similar opportunities in the Humber.
“We now have the green light to further develop and consult on engineering plans for the onshore CO2 pipeline from Easington to Drax, in advance of a DCO submission.
“Also, with the first Track-1 projects ‘off the blocks’, it clears the way for the progression of Track-1 Expansion and Track 2 projects in the Humber, which have been in limbo for nearly two years.”
