AN equipment hire firm has developed a sky-scraping device for the construction industry that is being used on sites in Britain and the US.

Xena Systems, which was formed in 2004, has manufactured a device that can load materials in to or out of buildings in excess of 40 storeys high.

The LoadSwift system, with a reach of more than 360ft, is already being used on construction projects in London, Glasgow and Chicago.

Now, through a newly-created division, LoadSwift International, Xena is looking to build relationships with customers in India, the US, the United Arab Emirates and central Europe.

The Middlesbrough company, which employs 11 people, is hoping to create four jobs with the expansion.

It has also received a £500,000 investment from NEL Fund Managers to help with its development.

Three-fifths of the investment has come from the NEL Growth Fund, which is managed through NEL’s venture capital division, NEL Capital, with the remaining £200,000 coming from the firm’s debt and mezzanine finance division, Evolve Finance.

Xena Systems’ chief executive John Fuller said: “Moving materials is a key part of the construction process.

“This usually requires the use of a tower crane or slowmoving elevator type equipment, which are primarily used for other on-site activities – project teams therefore have to wait until a tower crane is available, meaning costly delays in terms of both time and money.

“The LoadSwift system completely removes this problem, and means work can progress unhindered.

“Our research so far indicates that it makes the loading process about 80 per cent more time efficient, for about a quarter of the cost of using a conventional tower crane to do the job.

“We estimate that LoadSwift could be used on thousands of construction projects, and are now actively demonstrating the product to hire companies and end users.”

Nick Edgar, investment executive at NEL Capital, said: “Xena Systems has taken a very simple concept and developed a product that fills an important niche within the construction industry.

“Initial responses to the new product have been very positive and the significant commercial potential of the system made this an excellent investment opportunity for NEL.”