UK - Coalfields Enterprise Fund invests in Durham Pipeline Technology

Durham Pipeline Technology Ltd was formed to commercialise bristletractor technology developed over the last twelve years. Three years ago, DPT diversified into broader pipeline technology research and development. The Gatesheadbased company now supplies innovative technical solutions for pipeline inspection, maintenance and cleaning based on the patented bristle tractor technology.

The funding will enable Durham Pipeline Technology to continue its ambitious research and development programme at the cutting edge of pipeline technology and launch its pipeline tractor to the oil, water and chemical processing industries.

Paul Taberner, investment director for the Coalfields Enterprise Fund, added, 'DPT’s product offering is the result of years of hard work. We are very pleased to be helping the management team take this technology to a wider range of customers and thereby accelerate the company’s growth'.

Gerry White, director of NorthStar Equity Investors and manager of its North East CoInvestment Fund, said, 'Durham Pipeline Technology has a versatile niche product which has built up an impressive reputation in a range of industry sectors. The management team has done a sterling job developing cutting edge technology in a market where there is a need for technological development'.

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