Ignition supports Hanbury Autogil’s innovation drive
Ignition, a leading provider of asset finance and business loans for UK SMEs, has provided specialist engineering business Hanbury Autogil, with a £60,000 Government Guarantee Scheme (GGS) loan to support the company’s ongoing innovation and development programme, including work on a ground-breaking new machine for the electric vehicle (EV) sector.
Based in Newton Abbot in Devon, Hanbury Autogil operates across two highly specialist areas: the design and manufacture of advanced automated machinery, and a precision engineering machine shop supplying complex components for major manufacturers including Kawasaki and Siemens. Its converting machines are used to transform large-format materials such as paper, film and fabric into precise finished products, relying on cutting-edge laser technology and multi-stage processes requiring absolute accuracy.
The company employs around 50 people and is known for its agility and engineering excellence. During the Covid-19 pandemic, it designed and built the world’s fastest machine for producing PPE aprons, demonstrating its ability to respond rapidly to urgent market needs.
Part of the STAR Asset Finance Group, Ignition has a long-standing relationship with Hanbury Autogil, having previously helped finance company vehicles and a CNC machine. The new GGS loan will support cash flow as the business progresses an ambitious two-year R&D project to develop innovative machinery that produces insulation for EV batteries. The system uses specialist fire-resistant materials arranged in intricate panels to improve battery safety and prevent fire spread.
Philip Hudson, Project Accountant at Hanbury Autogil, comments:
“This is a significant investment for us and a crucial step in bringing a new and much-needed technology to market. Working with fireproof materials in such a complex sequence is challenging, but the end result will have major implications for EV battery safety.
“The support from Ignition, particularly from our account manager Dan, has been invaluable. He’s patient, flexible and always willing to take the time to run through the options to ensure we secure the most suitable terms. We’ve had a great relationship with Ignition for many years and the process is consistently smooth.”
Dan Liddeatt, Business Development Manager at Ignition, adds:
“Hanbury Autogil is a great example of a smaller business punching above its weight through skill, innovation and responsiveness. Their work is highly specialist and the new EV battery insulation project has real potential to benefit the wider automotive industry. We’re pleased to provide funding that supports their R&D phase and helps keep this important engineering capability growing in the region.”
For further information on Ignition visit www.ignitioncredit.co.uk or call 01872 272900.
