Subsea optical and electrical products provider Hydro Group has been granted US$8million capital funding by Clydesdale Bank to develop progressive new facilities.
The Aberdeen-based company will use the secured funding to build research, design and engineering test facilities at the city's Science and Energy Park.
Hydro Group managing director Douglas Whyte said, "The objective is to produce a facility that will enhance, improve and develop new products for the renewable, deep water and subsea sectors - with the whole Hydro Group team being integral in the planning, design and development of the new premises."
Clydesdale Bank Partner - Business Banking Charlie Henderson added, "Hydro Group has a record of innovation, client satisfaction and staff involvement. This, combined with their plans for new facilities and growth potential, make them an attractive investment proposition."