Almost half a million pounds of European Regional Development Fund (ERDF) Convergence investment and private equity will help Cornish based business Nature Paint Ltd. to expand and continue its success.
NaturePaint has been successful in securing almost £250,000 of ERDF funding through the GBI project of the Convergence Programme. They will be able to expand their current target market and also target new opportunities.The company also aims to employ an additional 19 staff by November 2013 and safeguard 1.5 jobs. During the first three months of the project the company has already employed an additional three members of staff.
The Hayle based company produces paints in a patented powder form, made with Cornish china clay, which customers then simply add to water and mix. This makes the product much easier to package and distribute as well as being better for the environment. It also has less of an impact on our health because it contain no VOCs, (volatile organic compounds).
Ross Harling Managing Director of Nature Paint Ltd said
“We are delighted with the ongoing support for innovative environmental businesses in Cornwall. Apart from the fact that we use a lot of ‘proper Cornish’ clays in all our paints, we were keen to locate in an area where mineral manufacture has a strong historical legacy. “
Currently NaturePaint serves the consumer lifestyle market, an area which it hopes to expand over the next 18 months. With so many organisations now having stringent green targets this low carbon paint can be used on a large scale in areas such as Local Authorities, the NHS, Office blocks, in new housing developments or refurbishment of Housing Association properties.