Romax gets boost from regional growth funding
Romax has secured RGF funding to further expand its footprint in the simulation software market.
Many industries are reliant on the development of innovative, more reliable and faster products to meet expanding global targets. Despite a severe economic downturn, independent research has shown that simulation and analysis software is still seeing a global growth rate of 6% annually, and within the automotive sector the rate was higher at 8.8%.
Funding provided by the Government’s Regional Growth Fund allows Romax to further advance the deployment of innovative driveline technology for use across the automotive, aerospace, rail, off-highway and energy sectors and has the potential to create jobs, boost the local economy and create commercial opportunities for the UK engineering industry.
This growth is set to increase for Romax which has already expanded by more than 30% this year, and as a result of the latest funding, recruited four new posts to support the implementation of technology.
Chief Software Architect Rupert Poon said ‘Regional Growth Fund Round 3 has allowed Romax to invest in further jobs and in the future. The development of next generation innovation is key for many industries and Romax is perfectly placed with its process improvement expertise and engineering know-how to develop next-generation software that saves time and money, resulting in new products with a faster time to market. The Regional Growth Fund has allowed Romax to ensure its quality assurance standards are the best they can be and develop a simulation platform that revolutionises driveline design and development.’
For Romax, Regional Growth Fund Round 3 follows on from existing Regional Growth Fund supported projects surrounding drivetrain development via the Wind Innovation Programme (WIP) with partner the University of Sheffield.