AN environmentally- focused engineering firm has received £600,000 of investment to help it expand.

AAG Swepco, based in Billingham, near Stockton, provides integrated renewable, engineering and facilities management services to the public and private sectors .

Having more than doubled in size in the past two years, the company is looking to treble sales during the next four years through increasing its focus on providing sustainable services for customers.

Regional fund management firm NEL Fund Managers is investing £600,000 into the company to help it attain its goals.

Business development director Andrew Dyne said: “The company structure has been developed to ensure that there are no boundaries between our business units.

“Our broad base of expertise means that we can look at a business’ sustainability objectives and provide advice and support not only in the obvious areas, such as energy consumption and environmental engineering requirements, but across other parts of the business too, such as management of the supply chain and procurement processes.”

AAG was founded in 2001 as a provider of electrical installation services to clients in the water industry, with the Swepco (Solar Wind Energy and Power Company) element of the current business being formed in 2004 to focus on the burgeoning micro-renewables market.

The two businesses were amalgamated to form AAG Swepco in 2007 The company employs 50 staff at its Billingham headquarters and 80 trade and skilled labour employees on contract across the UK. Its clients include main contractors, utility companies, local authorities and housing associations.

The new NEL investment has been drawn in equal parts from the NEL Growth Fund, which is managed through NEL’s specialist venture capital division, NEL Capital, and the firm’s debt and mezzanine finance division, Evolve Finance.

Both these funds were established with money from the European Union’s Regional Development pot and Single Programme funding from One North East.