The Low Carbon Innovation Fund (LCIF) has funded temporary power specialist Midas Productions with a five-figure sum, accelerating the company’s development programme.
Supported by the European Regional Development Fund and private sector investment, the LCIF provides equity finance for East of England SMEs contributing to the low carbon economy.
“Midas ticked a lot of the boxes in way very few businesses in the region can. It’s given recycled biodiesel a platform in number of sectors and a unique profile at events across the country,” Sam Burton, project officer for Creative Industries, said.
“Typically, companies come to us, but I discovered Midas powering the production behind Grimes on the Beach in Aldeburgh, for the Benjamin Britten Centenary, and approached them, because we like what they do.”
Midas’ managing director, David Noble, said: “Every step we’ve taken since we started 15-years ago has been self-funded. The LCIF input means we can bring our plans forward, in terms of employing staff and expanding our portfolio, which is very exciting.”
Picture: Midas at Shambala Festival