A North East company that has developed technology to improve safety within the oil, gas and power industries has received backing from the new North East Small Loan Fund, supported by the European Regional Development Fund. Jon Naylor has more than 30 years' experience in senior positions within the industrial pipelines sector and provides strategic consultancy to clients worldwide through Bedlington-based JNCS Business Services. He developed TorqTag to improve the processes around the closure of the dozens of flange pieces that join sections of pipeline to each other. TorqTag is small magnetic device that temporarily attaches to each bolt, helping technicians keep track of their bolting sequence. Orders have already been secured from clients around the world and Naylor has worked with regional fund management firm NEL Fund Managers to secure a £10,000 Small Loan Fund investment to help improve the manufacturing processes. Cramlington-based Algernon Precision Engineering are helping JNCS Business Services Ltd develop a new machine to speed up manufacturing. Jon Naylor said: "Rising demand and interest in the product has created a need to speed up the manufacturing process, and the machine that's been designed and built here in Northumberland will make a significant difference to the number of orders we can fulfil. "We know there's a real gap in the market for this product on projects right around the world and believe that it's likely we'll need to invest in further machines in the future as demand rises even further." Mike Guellard, investment executive at NEL Fund Managers, added: "Jon has developed an easy to use and highly effective solution for a specific industry issue, and now has the capacity to realise the potential of this latest piece of North East innovation in markets right around the world."
UK-based Algernon Precision Engineering Business Services has developed a safety device for pipeline bolting. The small, magnetic TorqTag device temporarily attaches to each bolt on a pipe, improving processes around the closure of flange pieces that join sections of pipeline together, thus helping technicians in the oil, gas and power industries keep track of bolting sequences. Algernon Precision Engineering has partnered with Northumberland-based JNCS to manufacture TorqTag, orders for which have been received from around the world. Algernon Precision Engineering recently received £10,000 ($13,000) from the EU-backed North East Small Loan Fund to improve the manufacturing process.