Custom and Contract Power Solutions Receive £50K Loan to Expand into New Markets & Increase Customer Offering
12 Mar 2021
Electronic component manufacture, CCPS are investing in their future by gearing up production of ‘Vigilant’ monitoring system.
CCPS are a Scottish based leader in electronic design and development of battery safety systems. With over 60 years’ experience manufacturing in-house, industry-leading systems in the areas of geotechnical safety analysis and standby (stationary) battery management systems. These products are specifically designed to manage the security of ground anchor systems in mines and the monitoring and safety management of large battery installations, respectively.
To invest in the future of the company CCPS approached BLS to support them with a £50,000 loan out of a total £107,000 funding package. This funding is to ensure the long-term growth of CCPS. The funds are being invested in their new products, firstly, the 'Vigilant' standby battery monitoring system. Launching in America, CCPS have several pilot systems currently installed within large utility
companies. This new product is a significant advancement over existing monitors in the marketplace as it enables customers to predict battery failure and schedule change outs; this is achieved through the process of monitoring cell condition and using machine learning algorithms to estimate battery state of health. This will extend the service life of the batteries, saving on time, resource and more importantly the environment.
A further product which will be brought to market this year is an innovative hand-held instrument, capable of the same predictive analysis as the ‘Vigilant’ continuous monitor.
The funding will primarily be invested in steel tooling equipment for plastic injection moulding, ordering the first batch of stock and employment of a specialised technician to increase assembly, product design and fieldwork capability.
The investment has already shown a return to the company, with a large initial order from the United States, which has enabled two extra staff to be employed.
BLS were delighted to provide £50,000 of the package which has been fully funded through the Scottish Growth Scheme and European Regional Development Fund (ERDF).
Speaking of the loan awarded CCPS Director, Nigel Scott added “The funding of £50,000 provided by Business Loans Scotland has helped immeasurably and is securing additional business and significant exports to give a boost to our company and the Scottish economy.
Fund Manager of Business Loans Scotland, Andrew Dickson said:
“I’m delighted Business Loans Scotland has been able to support Custom and Contract Power Solutions with their investment in the tooling equipment for injection moulding the plastics used in the Vigilant Battery Monitoring System. This innovative system allows ongoing monitoring of cells within batteries without the need to shut down for testing and is a much more efficient operation compared to what is currently available on the market.
Now that the system has completed final testing and is ready for production, our loan will be used to employ a Technician to increase assembly, product design and fieldwork capability as well as purchase the raw materials to start manufacturing and meet the anticipated demand for the product. I wish the Directors and staff well in growing the business and look forward to watching them thrive and flourish.”