An engineering business specialising in wind turbine components is planning to increase capacity five-fold with the support of Lloyds Bank.
Llanfyrnach-based business Greystone Technical, which designs and manufactures high-end components for agricultural wind turbines, has secured a new £100k funding package to support the purchase of new manufacturing equipment. The investment will enable the business to increase its output of high tensile steel products by 500% and build on its existing £350k-a-year turnover.
The firm produces advanced components to support the repair and maintenance of wind turbines largely used for energy production in the agriculture sector. Lloyds Bank has supported Greystone Technical since 2011, which is owned and operated by engineer Nick Jackson.
The business has maintained a positive trajectory through the Covid-19 pandemic and expects to use the new machinery as a platform for future growth.
Nick said: “Lloyds Bank has been my side as I’ve grown the business and has been instrumental in helping me secure the tools that will mean it can move on to the next level. More importantly, the bank provided outstanding support after I was diagnosed with Asperger’s syndrome last year. Trust is a major part of any relationship – whether business or personal – and that is even more so the case for someone with Asperger’s. That trust is why I turned to the bank when looking to fund this new machinery and the next step of growth for my business.”
Beth Evans, relationship manager at Lloyds Bank, said: “Nick has outstanding abilities as an engineer and is using his 30+ years of experience to help upgrade and extend the lives of wind turbines that are no longer in production. He has built a thriving business around these skills and it’s a pleasure to provide the funding that will unleash its future potential as green energy production becomes more and more important. We’ll continue to be by his side through whatever challenges life presents.”