Latest news in brief from around the county...
Aston Martin seeks to raise £653m in “Game Changing” Event
Gaydon-based Luxury car maker Aston Martin has revealed plans for a £653m equity capital raise, with Saudi Arabia's Public Investment Fund (PIF) to become a new anchor investor and the second largest shareholder. The company's executive chairman described the move - designed to accelerate Aston Martin's long-term growth - as a "game changing" event.
£5m Low Carbon Innovation Hub Coming to MIRA Technology Park
Plans have been approved for a £5m green infrastructure project linked to a Low Carbon Innovation Hub that will support tech companies as they focus on developing low carbon technologies. Funding has been agreed which will transform an existing building at MIRA Technology Park into a low carbon research centre, bringing with it transformational charging and testing infrastructure for electric and hydrogen vehicles.
MTC and Adelan with ATF Funding to Drive Forawrd UK Fuel Cell Manufacturing
The Manufacturing Technology Centre (MTC) at Ansty Technology Park has joined forces with hydrogen technology pioneer Adelan in a project aimed at significantly ramping up fuel cell manufacturing capacity in the UK. With funding from the Government’s Automotive Transformation Fund (ATF), Birmingham-based Adelan and the MTC will study ways of building UK capacity for manufacturing fuel cells for the automotive sector, helping the UK drive to net zero.
Plug and Play UK Adds University of Warwick, APC, Zenzic as Partners for UK Mobility Innovation Programme
Recently created by global innovation platform and prolific early-stage investor Plug and Play, alongside founding partner Jaguar Land Rover, Plug and Play UK will create an innovation hub that is the first of its kind in the UK. The programme will build an ecosystem of start-ups and scale-ups, corporates, investors, and academia to explore the challenges and solutions that will define the future of the mobility sector, create jobs, and help shape the digital economy.
Sonic Boom in Silicon Spa
Sega Publishing Europe Limited has doubled their game development floorspace at Victoria Court, in Leamington Spa. Sega Hardlight studio is behind the critically acclaimed adventures of Sonic the Hedgehog™ on mobile platforms such as Sonic Dash, Sonic Boom and Sonic Forces. It now has 15,300 sq. ft. office space at Victoria Court.
Med-tech Firm Quanta wins major technology award
Alcester-based Quanta Dialysis Technologies has won the 2022 MacRobert Award, the UK’s top engineering innovation prize. Quanta has been awarded the accolade for the SC+ compact dialysis machine, a compact kidney dialysis machine. Its portability allows it to be used to treat kidney failure patients at home, relieving the burden on hospitals.
Delivery giant DHL to occupy 300,000 sq ft at Segro Park and create 600 jobs
DHL Parcel UK has become the first occupier at Segro Park Coventry after choosing the development as the location for a major new UK logistics hub. It will initially a 300,000-square-foot unit on a 25-year lease at the 200-acre industrial and logistics park in Warwick District, creating up to 600 jobs, including warehouse, driver, administration and management positions.
New £5.5m scheme could bring hundreds of new jobs to Warwick and Leamington
The final development in a major business and industrial park in Warwickshire is set to create hundreds of jobs and scores of new companies in Warwick and Leamington. The Space Business Centre Warwick will feature 61 200-500sqft units being created by developer AC Lloyd Commercial and is designed to attract start-up and expanding enterprises and will be a mix of office, industrial and storage units and will provide short-term flexible accommodation to help the businesses grow.
Construction Starts on £20m Coventry Boutique Hotel
Leamington Spa-based property developer Castlebridge has broken ground on a £20 million hotel project in Coventry city centre. Once complete, the Hotel Indigo will feature 100 rooms designed with Coventry’s history in mind. It will also have a gym, restaurant and bar which will be available to both hotel guests and the public.
New Appointment To Drive Innovation Agenda At University Of Warwick Science Park
Mark Tock has been appointed Chief Operations Officer at the University of Warwick Science Park as part of a strategy to drive innovation across the West Midlands. The Science Park will continue to work with the University of Warwick to foster collaboration between business and academic research. This includes access for major initiatives such as global innovation platform Plug & Play’s Mobility Platform, based at the National Automotive Innovation Centre (NAIC).
HS2 Reveals Outdoor Factory and Training Academy at Kingsbury
The first pictures have emerged from HS2’s giant construction compound in Kingsbury, Warwickshire. The 550,000m2 site is run by HS2’s civil partner, Balfour Beatty VINCI (BBV), and will soon become the workplace for around 1,000 people tasked with building the high-speed rail line on a network of viaducts crossing motorways, roads and footpaths.
Major Business Event Comes to West Midlands During 2022 Commonwealth Games
Birmingham 2022 Commonwealth Games will coincide with UK House: The Commonwealth Business Hub. The first event of its kind, UK House will champion solutions across eight areas of strategic importance and showcase opportunities for sustainable growth, trade and investment, including Future Mobility and the Digital Creative Sector.
Business Economic Sentiment Presents Mixed Outlook for Economy
Coventry and Warwickshire's economic outlook has dropped to its lowest point since the second quarter of 2021, according to new research, but is still in "positive territory". The Coventry and Warwickshire Chamber of Commerce's latest Quarterly Economic Survey (QES) said that, despite the drop, the region remains on par with the rest of the UK economy. The service sector experienced a drop in domestic orders, down from 62.1 to 52.4, while in manufacturing, the score jumped from 47.6 to 53.9.
New Leader at Chamber of Commerce
A new chief executive is taking the helm at Coventry and Warwickshire Chamber of Commerce. Corin Crane has joined the Coventry and Warwickshire Chamber of Commerce after leading the Black Country Chamber for almost six years. He succeeds Louise Bennett, who has run the organisation for 20 years and will remain with the organisation for a brief period to handover.