Howden Compressors invests £1.2m in innovation to create growth from oil and gas downturn
Growing the business in recent years has become increasingly challenging due to the global oil and gas market downturn. Over the next three years, Howden will invest in innovation to develop and expand the oil-free screw compressor range, to substantially increase global presence on oil & gas industrial compressor markets.
Scottish Enterprise is supporting Howden with an R&D grant of £431,000 to assist this development and accelerate getting the new product to market.
“Increasing business innovation investment is critical to maintaining Scotland’s global competitiveness. Howden Compressors is a great example of how innovation can drive company growth through international sales and we wish the team every success with this project”, commented Jim Watson Innovation and Enterprise Services Director at Scottish Enterprise
With a vision based on customer driven design and deep understanding of the market opportunities, Howden’s goal is to increase its share on the global oil-free screw compressor market by 2021.
Fred Hearle, Global Product Director and Managing Director for Howden Compressors, said, “Over decades Howden introduced many innovations, from the forced draught system and the invention of the Diaphragm Compressor to the commercialisation of the Rotary Heat Exchanger and the Screw Compressor. The development of our oil-free range of screw compressors is part of our continuous investment to use innovation driven product design and continue to deliver our excellent products to our customers.”