• Laytrix Confirms Further Funding

    Laytrix Ltd and its shareholders are delighted to announce receipt of further funding from Mercia Technologies via its Northern Powerhouse Investment Fund (NPIF). The six figure loan agreement follows on from the equity investment made last year and will allow the business to commence sales and marketing activities for its first series of products associated with its pipelay and recovery system, patents for which were submitted earlier this year.

    Gary Hogg, Non-Executive Director stated the funding would be used to target both sectors in the North Sea such as the developing decommissioning arena as well as export markets such as the Middle Eats and Far East which have already seen an interest in the technology.