Northumberland robotics company Tharsus is gearing up for its next phase of growth after being accepted into the London Stock Exchange’s Elite programme.
Tharsus is the first robotics firm to be included in the Elite programme, which is designed to support international businesses, provide advice, and help companies raise capital.
The North East firm was accepted into the network to help represent the growing robotics industry. It joins a network of over 750 international businesses, include more than 100 that are based in the UK.
Each member business is considered an expert in its field and are able to offer specialist advice about their respective sectors.
Tharsus is best known for manufacturing robots that are used to pick groceries within a warehouse for online retailer Ocado. The two firms have worked together since 2013 and Ocado recently revealed it would be introducing Tharsus robots at more of its UK sites.
Tharsus’ membership to Elite, along with its extended partnership with Ocado, is set to kick off the next phase of the firm’s growth strategy.
CEO Brian Palmer said: “We are extremely proud to be part of the London Stock Exchange’s Elite UK programme. Tharsus has experienced monumental growth in recent years and we’re looking forward to driving that forward with Elite.
“I think that this scheme, with access to the advisory support and leading capital markets network, will be instrumental to our continued growth and success.”
The Elite programme aims to support firms in raising capital but it is unknown whether Tharsus will seek to raise this cash through a stock market flotation, or through other external financing options.
Tharsus currently operates three UK site, which are based in Blyth , Durham and Cambridge, and employs a team of highly-skilled engineers and designers.
Luca Peyrano, chief executive officer of Elite, said: “I am delighted to welcome the latest group of UK companies to Elite.
“Innovative, inspiring and fast growing businesses are essential for the British economy driving growth, innovation and employment. We look forward to supporting 20 more UK businesses scale up and achieve their growth ambitions.”
Source : Chroniclelive