AES are thrilled to confirm that we have been awarded an investment of £250,000 by leading capital venture firm Midven.
This investment follows Midven being appointed to manage the £35 million equity finance portion of the Midlands Engine Investment Fund (MEIF) in the West Midlands.
The investment will provide AES with the capacity to recruit additional technical and sales staff over the next twelve months, accelerate product development, strengthen sales processes and expand marketing activities.
Midven’s investment coincides with AES’s desire to commercialise its range of proprietary technologies, which will complement both its design and production work.
Nigel Maris, Managing Director at AES, said: “This investment gives us a fantastic opportunity to develop and market strong internal IPR products and really progress our marketing activities. We’re looking forward to working with Midven, who will offer strategic advice, guidance and work in partnership with us as we work towards increasing our sales in the microelectronics and electro-mechanics industry.”
Surjit Kooner, Director at Midven, added: “AES has fantastic potential which, with added financial support, will continue to provide and create high-quality products and expand its development services across automotive, aerospace, medical and defence industries.”
Grant Peggie at the British Business Bank, said: “Electronic design is a highly-skilled industry with significant growth opportunities. Midven’s investment in AES demonstrates the type of innovative growing companies that the Midlands Engine Investment Fund has been set up to support. We look forward to seeing the next phase of AES’ business journey progress.”
Sean Farnell, Coventry and Warwickshire Local Enterprise Partnership Board Director, said: “It is great AES is expanding its business in Warwickshire and underlines its commitment to innovation, design and manufacture of which AES and the area as whole is renowned for.”