MORE than 300 jobs will be created after the company behind an innovative infrared energy saving heating system was awarded a £2m loan.
Erad Systems Limited secured the loan from the Greater Manchester Combined Authority (GMCA) as part of its Regional Growth Fund Programme.
The firm’s founders Mike Drogan and Steve Robson believe their Erad system has the potential to revolutionise the way in which people heat their homes and businesses.
It works by using infrared radiant heat to warm the objects in a room as opposed to the surrounding air resulting in a much more even distribution of heat.
Mike said demand for the product is high and said the £2m will be used to invest in high quality staff.
He said: “Countless hours have gone into developing and testing the system to create an energy solution that is both highly energy efficient and extremely cost effective for our customers.
“Since starting to introduce the system to the market just eight months ago as part of our pre-launch activity, we have received an overwhelming response and it is great to see this potential recognised by the GMCA.
“We have a global patent for the Erad system and, although our short-term goal is to focus on the UK market initially, we see great potential in the future for the system to be rolled out overseas.
“We believe has the potential to revolutionise the way in which people heat their homes and businesses.”