Fermanagh renewable energy firm invests in expansion

Enterprise Minister Arlene Foster has announced a £377,000 investment by an Enniskillen based renewable energy firm, supported by Invest Northern Ireland.

Future Renewables, which designs, supplies and installs domestic renewable energy solutions, is one of the first businesses to get support from growth element of the Invest NI Enterprise Development Programme.

Launched last year by Invest NI, the programme provides free advice to established businesses which have the potential to increase production levels, workforce and sales in export markets.

As a result of the advice received, Future Renewables is now investing in a £377,000 expansion plan which will help the firm to move into the Republic of Ireland and UK markets over the next two years. Invest NI has offered over £35,000, part funded by the European Regional Development Fund, to support the project which will create 10 new jobs.

Enterprise Minister Arlene Foster said: “Invest NI’s Enterprise Development Programme can help Northern Ireland businesses to reach their full potential by providing free targeted specialist support across key business areas. This is a valuable resource for small companies with export potential, as it can give them the confidence and the knowledge to maximise new opportunities and increase competitiveness.

“This project is an excellent example of how the Programme can help businesses to progress to the next level. The investment will enable Future Renewables to take advantage of the increasing demand for renewable energy solutions, position the business strongly in target export markets and provide employment for local people.

“This is a positive and commendable step for a sole trader at a time when many companies continue to postpone expansion plans. It demonstrates how entrepreneurial vision combined with a strong business proposition and the correct support network can drive growth and deliver economic benefits.”

Neil Elliot, owner of Future Renewables commented: “Having developed highly efficient and cost-effective renewable energy solutions and enjoyed some success in the local marketplace, I needed wider business advice in order to plan correctly for my export growth. Future Renewables has significant export potential but access to specialised advice was critical to ensure the correct decisions were made.

“I am delighted with the support from Invest NI as it helped me to refine my business strategy and identify key areas for development. As a result, I was then able to access financial support for my investment project to support product development and customer service management initiatives, as well as increase our brand awareness in market. I am confident that by 2012, at least 50% of turnover will come from customers outside NI.”

Notes to editors:

1. The Growth Programme is part of Invest NI’s suite of Enterprise Development Programmes launched last year by the Enterprise Minister.
2. Invest NI has offered £35,560 of support - including part funding from the European Regional Development Fund (ERDF) under the Sustainable Competitiveness Programme for Northern Ireland - towards Mr Elliot’s total investment of £377,100.
3. Future Renewables was set up in 2009.
4. For media enquiries please contact the DETI Press Office, telephone 028 9052 9297. Out of office hours, please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.