Lontra awarded €1.57m in EU funding grant
Lontra, the company responsible for the revolutionary Blade Compressor®, awarded EU funding to fuel growth into new sectors in a global market now worth £25 billion.
This is the second success for the Midlands-based company in securing Horizon 2020 funding. It’s the biggest EU Research and Innovation programme supporting small and medium-sized enterprises to accelerate in new industries and markets.
With more than 31,000 applications received, Lontra beat strong competition from across Europe, winning a total grant value of €1.57m. Over the next two years the new grant will allow the company to introduce its revolutionary Blade Compressor ® to the pneumatic conveying market. This will bring huge energy savings to the manufacturing sector.
Lontra is partnering with leading food and pharmaceutical manufacturers to replace outdated and inefficient pneumatic conveying (blower) systems. They are two of the UK’s largest manufacturing export sectors worth a combined £38 billion.
As well as to winning EU funding for the second time, Lontra’s founder Steve Lindsey was recently a finalist in the European Patent Office’s Inventor awards. One of just fifteen chosen from around 600,000 active patents filed across Europe. The company achieved recognition after its proven success in the wastewater treatment sector; demonstrating significant energy and cost savings of 21.2%, and better reliability during site trials with Severn Trent Water.
As a fast growing British firm with a growing manufacturing capability, Lontra’s ambition is to address the current problems of high energy use and high maintenance costs. Achieved by replacing the blowers used in food and pharmaceutical industries with its superior oil-free Blade Compressor® technology.
In addition Steve Lindsey, Founder and CEO of Lontra commented:
“The exciting thing about compressors is they are behind nearly every part of modern life. What we’re doing is truly ground-breaking and requires the support of funding bodies like Horizon 2020. As the Government sets out the funding conditions for British SMEs and start-ups post-Brexit, it is important to note how successful the UK has been in securing European funding. Furthermore the pneumatic conveying industry is hugely productive for British export trade. So it’s of utmost importance that our Government negotiates a trade deal that reflects the voice of British businesses.”
The company’s first products offer significant advantages in efficiency and reliability for the low pressure compressor market. A £25bn per annum sector. Finally as part of the grant funding, Lontra will receive world-class business innovation coaching. Also other business acceleration to help meet its ambition to introduce solutions to even larger sectors.