Yorkshire-based RediGroup – manufacturer and supplier of a full range of turnkey and stand-alone handling and storage solutions – has received a grant of in excess of £1 million from the Regional Growth Fund (RGF).
RediGroup will use the grant to further develop and market its RediLogX automated materials handling solution – which it will launch officially at the forthcoming IMHX exhibition.
The Group plans to create an ‘Automated Warehouse Innovation Centre’ close to its existing Mexborough headquarters and manufacturing plant from where automated systems based around the RediLogX technology will be researched and trialed.
Construction work on the new facility will start straightaway with completion scheduled for Summer of 2013.
Once the Innovation Centre goes live, a number of new jobs will be created – in both research and development and production roles.
Announcing the award of the RGF grant to RediGroup, Deputy Prime Minister, Nick Clegg – whose Sheffield Hallam constituency borders RediGroup’s Mexborough factory – said: "I’m delighted that RediGroup can grow and innovate thanks to a £1million cash injection from the Regional Growth Fund. Our great regions are the jewels in our crown, and I’m proud of our thriving industries in Yorkshire."
Andrew Forsythe, Managing Director of RediGroup Ltd, commented: "We are delighted to have received this substantial sum from the Regional Growth Fund.
"In all, we will be investing over £4 million over the next five years. Significant expenditure is required to develop blue print solutions using test rigs and robotics and, of course, for the actual development of the Innovation Centre building.
"Research engineers will be recruited and expertise in engineering systems and software modelling will be accessed through research institutes and other supply partners."
RediGroup’s RediLogX system is an automated pallet storage, retrieval and sequencing solution that allows the storage density of an existing warehouse to be increased by up to 90% when compared to traditional very narrow aisle (VNA) racking and lift truck-based designs. It is offered through the Group’s RediTechniX division.
"We are very excited about RediLogX. It has the potential to revolutionise the way goods are stored in warehouses, and we are very much looking forward to showing it at IMHX," said Andrew Forsythe.
"Traditional solutions such as VNA, crane systems and mobile racking just cannot compete with the ecological, productivity and cost benefits that the RediLogX solution offers.
"The Regional Growth Fund grant will enable us to develop RediLogX further still and bring it to more and more companies," he added.
The Regional Growth Fund (RGF) is a £2.6 billion fund operating across England from 2011 to 2016. It supports projects and programmes that lever private sector investment to create economic growth and sustainable employment. The first 3 rounds allocated £2.4 billion which will leverage over £13 billion of private sector investment and create or safeguard over 500,000 jobs. Round 4 is now open for applications and will allocate a further £350m.
Business Minister, Michael Fallon, said: "This is a welcome boost for RediGroup, its supply chain and the Doncaster area. The company has moved quickly through the due diligence process, signing their final offer two months ahead of deadline.
"Round 4 is still open for applications and I would urge other companies to apply. We are determined to support companies, like RediGroup, that want to grow and create jobs."
The RGF is a flexible and competitive fund, with bidders able to submit bids either as a project or a programme. It has a minimum bid threshold of £1 million.
For more information, visit: https://www.gov.uk/understanding-the-regional-growth-fund#what-is-the-regional-growth-fund.