Bellshill-based FUELlink Systems is using an equity investment from UK Steel Enterprise (UKSE) to push ahead with developing new technologies.
UKSE, the Tata Steel business support subsidiary, has provided financial backing based on the young company’s potential.
FUELlink was formed last year by business partners Bob MacInnes and John Ashley, who have over 60 years of industry experience between them.
It provides fuelling equipment and maintenance to local authorities as well as transport, logistics and emergency service operators across the UK, from Orkney to the New Forest and Norfolk to Monmouth.
High profile clients on FUELlink’s books include WH Malcolm, Lothian Buses, East Yorkshire Motors and Nottingham City Transport.
Several customers have already committed to using the firm’s bespoke nozzle system which guards against fuel theft, spillage and hazards with its non-drip technology.
The nozzle attaches securely to a dedicated fuel cap fitted to each vehicle to ensure efficient re-fuelling without the worry of diesel loss and the resulting financial and safety implications.
As well as providing on-site re-fuelling equipment and related maintenance, FUELlink has created an online fuel management system, the software for which is written in-house.
Scott Webb, regional executive for UKSE, said: “FUELlink Systems has an incredibly valuable offering, which is recognised by its growing customer base.
“UK Steel Enterprise applauds the firm’s entrepreneurial attitude and determination to improve its equipment and software products to make life easier for the fleets that rely on FUELlink’s expertise.
“With the challenging economic climate, companies are beginning to prioritise return on investment by spending more money on maintenance as well as looking for ways to reduce large fuel bills and so FUELlink’s innovations are proving popular.”
FUELlink’s software experts liaise with customers using the fuel management package in order to tailor the system’s capabilities for each client’s needs.
Paul Brooks, sales director at FUELlink Systems, said: “The financial backing from UK Steel Enterprise is a great boost at a time when interest in our nozzle technology and fuel management software is stepping up a gear.
“We have some very loyal customers and while everyone is feeling the pinch, a growing number of companies are realising the value in ongoing maintenance contracts and effective fuel management.
“This is an exciting time for FUELlink Systems and the cash injection from UKSE will allow us to push the company and its new products forward and create new jobs as we grow.”
Macdonald Henderson advised UKSE on the completion of the investment, with Curle Stewart acting for the company, and the transaction was completed within a matter of weeks of agreement of final terms.