Romax is one of five companies from different industry sectors in the East Midlands region of the UK, which will share £14m from the Regional Growth Fund, a government initiative designed to stimulate regional economic growth.
The company will use the money to part fund a number of ongoing collaborative research projects designed to address the needs of the growing UK offshore wind market and help the wind industry to develop optimised drivetrain solutions that are reliable and efficient; decreasing the overall cost of wind energy worldwide.
Dr Peter Poon, CEO of Romax Technology said: "The work we are doing is cutting edge and will have a major impact on the role play played by wind energy in the global economy over the next few years. The fact that we are able to obtain external funding for our research demonstrates how important it is."
To date Romax has been involved in collaborative, funded research projects totalling £22m in value, working closely with offshore market leaders, world class technology providers and academic experts.