Macrete Ireland, the Toomebridge-based precast concrete specialist, has announced a £637,000 investment in research and development (R&D) to develop a new version of its award-winning FlexiArch bridge.
The project is being supported by Invest NI, which has offered over £191,000 part-funded by the European Regional Development Fund.
Macrete has collaborated with Queen’s University, Belfast in the development of the novel flexible precast concrete arch bridge which has received intense interest from civil engineering companies across the world.
It is recognised as a supreme technological innovation in the construction of durable bridges.
There is no steel in the bridge which avoids problems with corrosion so maintenance and repair costs are kept to a minimum.
The bridge, which is cast flat, can take as little as half a day to erect.
Details of the investment were revealed during a visit by Enterprise Minister Arlene Foster to Macrete’s headquarters in Co Londonderry where she announced that Invest Northern Ireland is enhancing its support for research and development, specifically targeting small businesses and prototype development.
“The support being offered under Invest Northern Ireland’s Boosting Business through R&D campaign will help to stimulate more research and development in companies of all sizes,” said the minister.
“Recent figures show that Northern Ireland expenditure on R&D in 2010 was the highest ever, with spending by businesses increasing by six per cent on the previous year. This shows that businesses recognise very clearly the value of investing in new products and processes to keep ahead of the competition and strengthen their long-term position.”
The support is part of Invest NI’s Boosting Business campaign and aims to encourage more market-led R&D, in particular among small businesses.
It will offer small companies up to 75 per cent grant support for R&D projects up to a maximum of £50,000.
The minister added: “Macrete Ireland is a good example of a company that has built its success on innovation and is continually looking for new products to add to its range and maintain viability.
“The enhanced R&D support for businesses announced today will help more companies like Macrete to get the funding they need to develop prototypes and bring new products to market.”
Macrete Ireland specialises in the design and supply of reinforced and prestressed precast concrete products to the civil, rail, water, stadia, marine and agricultural markets. The new version of the FlexiArch for railway arches and road or canal bridges involves developing a double radius version of the structure.
Iain Hogg, Macrete Ireland’s managing director, said: “There are significant technical challenges in this project and significant cost in developing the prototype. Invest NI’s support is essential in allowing us to proceed and reduce the risk involved.
“We will be working again with Queen’s University to develop the double radius FlexiArch and have already received expressions of interest from potential customers.”