5th January 2007
SWIG FUNDING GIVES POWERCATS THE PERFECT LAUNCH AT LONDON BOAT SHOW

A Cornish boat manufacturer is planning to make major waves at the London Boat Show after securing over £40,000 of support from the region’s leading small business gap funding provider South West Investment Group (SWIG).

Powercats Ltd, which manufactures a range of twin hulled, twin engined catamarans from its factory in Redruth is hoping to attract a great deal of attention and interest from visitors at the UK’s premier boat show at Earls Court which opened on January 5th and runs until Sunday, January 14th.

The company will use the funding from SWIG’s Cornwall Business Growth Fund to help market the boats throughout the UK, undertake further product development and improve their premises.

“The London Boat Show is a major opportunity for us to take Powercat to the thousands of boat enthusiasts who will attend, enabling us to show the benefits that Powercat has over traditional craft such a RIBS.

“The SWIG funding has really enabled us to review and improve the way we market Powercats, enabling us to create a new website, brochure, DVD and attend the London Boat Show itself. It is a very exciting time for the company and the SWIG funding is and will continue, to play a central role in our success,” said Powercats Director Matt McLeod.

Highly maneuverable, the twin hulled, twin-engined craft, which were originally designed to work in and around the often treacherous waters that surround the Isles of Scilly, provide unrivalled levels of safety, ride and smooth performance with the added benefit of abundant space for family, friends and equipment.

In addition to its open deck family Powercat, the company has also launched version for sea fishing enthusiasts with a front cabin and a commercial Powercat, which is already being used by organisations such as the Environment Agency.

The company has previously benefited from SWIG funding. According to John Peters, SWIG Fund Manager, this latest round of funding should enable Powercats go onto even greater things.

“This is the second funding stream that Powercats has drawn down and we are delighted that it will enable the business to go forward at greater pace. Powercat has become the UK’s leading small powered catamaran manufacturer and clearly from their experience at the London Boat Show and the fact more organisations such as the Environment Agency are using their craft, the future is looking bright.

“A Cornish company with its roots in the Isles of Scilly which is now making a successful transition into the national marine market, which will undoubtedly create the opportunity for new jobs to be created in the county, we are delighted to have been able to provide the springboard needed for the company to prosper,” said Mr Peters.