A Wakefield-based company that provides sustainable building materials sourced from scrap has secured £400,000 in funding from EU and government-backed venture fund Finance Yorkshire.
Finance Yorkshire provided the funds as part of their ‘seedcorn’ initiative, which backs innovative technology-based businesses seen as having the potential to become flagship companies for the region.
Carlton Manufacturing was founded in 2011 and provides recycled building materials sourced from scrap to the construction and DIY sector, helping companies to meet their sustainability targets. Carlton has expanded its workforce as a result of the investment, and moved into new premises in April.
Heather Roxborough, Finance Yorkshire Investment manager, said: “The construction industry is coming under increased pressure to use more sustainable building materials. Builders and construction workers are now actively looking for new products that will help them achieve the sustainability targets that the government and industry bodies have set.
“We were delighted to be able to provide the finance required to help Carlton set up their manufacturing facility in Wakefield and bring their first products to market. Importantly, the investment will also be used to help commercialise the other sustainable building products that Carlton currently has in development.”