R&D is a key tenet of our strategy for growth. During FY2016 we increased our expenditure on R&D by 65% to £1.1 million, of which £0.8 million was capitalised (FY2015: £0.4 million).
This R&D was focused on a number of areas that included:
- New product development
- Developing a renewable testing system for subsea motors
- Enhancing our existing product range
- Finding new applications for existing products in new markets
- Developing new markets