Market Leads & Opportunities
£12m R&D hub to create 160 jobs
A group which owns a number of advanced engineering businesses in the South East is to open a new research and development facility and create 160 jobs over the next five years as part of a £12m project, backed by funding from HSBC and the government.Oxford-based Polar Technology Management Group will open the R&D centre in Eynsham. The new site will develop innovative engineering products for a dynamic range of market sectors, including aerospace and defence, motorsport, automotive, energy and clean processing industries.To support the development, the company has received a £5.1m package from HSBC, comprising £3.4m of asset finance, a £1m invoice finance loan and a £750,000 loan for the construction of the research site. A further £1.99m has been provided by the Regional Growth Fund.
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