A small magnetic device invented by a Northumberland entrepreneur is set to make a big splash in the global oil, gas and power industries following financial backing.
Jon Naylor has more than 30 years’ experience in senior positions within the industrial pipelines sector and he now acts as a top level consultant for clients around the world through his Bedlington firm , JNCS Business Services Ltd.
Now Mr Naylor has invented the TorqTag, a magnetic piece of kit used on pipelines which is already winning orders around the world – and is poised to reach new heights after winning support from the new North East Small Loan Fund Supported By The European Regional Development Fund.
The TorqTag was developed when Mr Naylor realised there was an industry need to improve processes around the closure of the dozens of flange pieces that join sections of pipeline to each other.
This process is done by engineers in a precise order, to make sure connections are made as they should be, and the TorqTag temporarily attaches to each bolt, helping technicians keep track of their bolting sequence.
Having already won orders from existing and new clients around the world, Mr Naylor has worked with regional fund management firm NEL Fund Managers to secure a £10,000 Small Loan Fund investment that is helping improve the manufacturing processes around the TorqTag.
View the full article at The Chronicle
Report News Article