An innovative clean tech company will create 30 jobs thanks to a loan investment award.

CTEC Energy, based in Newhaven, specialises in advanced thermodynamic engineering.

It manufactures heat recovery units for large industrial internal combustion engines which convert exhaust gas to super-heated steam which is fed into a compact steam expander.

The company, part of Newhaven’s growing clean tech cluster, was awarded money from Coast to Capital, the local enterprise partnership.

The Growing Places funding award will also allow it to purchase new equipment and increase sales.

Managing Director Mike Burns said: “CTEC Energy is a fledgling company that invented unique renewable technology; many fledgling companies need financial assistance.

“The sources for financial assistance are few in the early stages sales are critical to the success of the business.

“Without this financial assistance from Coast to Capital CTEC Energy would have to slow down its development.” CTEC’s technology can generate electricity from any stream of sufficiently high temperature gas.

No precious metals or limited commodities are used and the lack of combustion means units emit very little noise, with the lack of carbon emissions meaning it is genuinely efficient.

Each unit has the ability to provide returns of 12% additional electricity.

Ron Crank, chief executive of Coast to Capital said: “We were attracted to CTEC Energy as it is a prime example of a company using innovative technologies.

“We are pleased our Growing Places funding will be used to help CTEC Energy grow its business and create employment opportunities for local people.”

The Coast to Capital Growing Places Loan Fund is available for projects that are ready to implement in the short term and that will create or unlock job creation.

To find out more about the Growing Places Fund and to see if your business is eligible for funding go to www.coast2capital.org.uk or contact Paul Castle on 01403 333845 or email him directly at paul.castle@coast2capital.org.uk.