Gooch & Housego secures investment from the UK government Regional Growth Fund (RGF)
The fifth round of the UK government £3.2 billion RGF stimulus package to stimulate private sector economic growth and sustainable employment has been announced today. Gooch & Housego (Torquay) was one of 37 businesses to be selected through a competitive process from 133 applications.
The £0.8M / $1.3M / €1M granted to G&H (Torquay) will enable further investment into the company’s Systems Technology Group (STG). The group founded in early 2013 has a remit to design, develop and prototype systems-level products. The objective is to build a multi-disciplinary team with expertise in mechanical, electronic and software design and to integrate these technologies with G&H’s expertise in photonics and fiber optics. The STG is accelerating G&H’s move up the value chain by providing a strong pipeline of component and sub-systems development, and offering customers a complete system design, development and manufacturing service. STG is currently focused on innovative Optical Coherence Tomography (OCT) fiber systems for medical imaging and erbium doped fiber amplifier (EDFA) systems for satellite communication.
According to G&H (Torquay) General Manager Graham Catley, “The RGF funding will mean G&H is able to further strengthen its expertise in a number of areas which are key to the strategic growth of both the company and also European leadership in this area. The resulting expansion of the R&D and production facilities at G&H (Torquay) will be a tremendous boost to both employment and the reputation of the Torbay area.”
The RGF grant was secured with significant support in its submission from the Torbay Development Agency. Letters of support for G&H in the bid process were also provided by local MP, Adrian Sanders and Torbay Mayor Gordon Oliver.