Subsea technology firm expands with business support grant

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An energy sector firm which specialises in the design, production and rental of advanced subsea technology is enhancing its facilities in Great Yarmouth and creating new jobs with support from the Growing Business Fund.

Subsea Technology & Rentals Ltd (STR) applied for £30,000 in funding from the LEP programme to complement its internal office restructure. STR used the funding to invest in machinery to aid its operations onsite, allowing the company to continue to provide a dedicated and efficient service to customers. The project resulted in the creation of four new jobs.

The Growing Business Fund offers grants up to £500,000 for local businesses which want to grow and create new jobs. The grants can cover up to 20% of the total project cost. The Fund is delivered by New Anglia LEP in partnership with Suffolk County Council and Finance East. To find out more, contact one of the New Anglia Growth Hub’s Business Advisers on 0300 333 6536 or [email protected] for free advice.

Scott Johnstone, Group Managing Director, STR, said, “Support from New Anglia LEP’s Growing Business Fund has provided STR with the opportunity to enhance its facilities. To support our growing business, we have been able to extend the office space internally and create a custom-built cable moulding facilities and store area through the implementation of a mezzanine floor.”

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