MP praises e2E for investing in the North East
Local MP Ian Mearns visited e2E, a satellite communications company, in Gateshead.
Mearns heard how the company, founded in 1999, is working towards disrupting the way satellite communications are provided, by making them more accessible to smaller businesses. He was particularly interested to learn that e2E is building up its production and operational capabilities in the North East, with the ultimate aim of establishing the first UK Satellite and Service Operations Centre for nano-satellite communications.
Mr Mearns was also welcomed by Andy Thomas of YFM Equity partners, who provided e2E with substantial Venture Capital Trust (VCT) investment in September 2017. This investment allowed e2E to take a new technology – Software Defined Radio (SDR) – to market, while creating a number of new, highly skilled jobs in Gateshead.
Barry Ross, CEO of e2E, said:
“The North East is an ideal location for our product and service operational aspirations, with plenty of enterprises on the doorstep that will benefit from cheaper satellite delivery from newer airborne platforms – particularly in rural regions.
The North East has excellent facilities and educational links that will help take us forward towards our vision. The investment options backed by YFM have further been well in line with our growth strategy, and brought into play much needed business support”
Ian Mearns MP said:
“e2E is a true North Eastern success story that Gateshead can be proud of.
“Many small businesses I have met have had a clear idea of the path they wanted to travel, but have lacked the capital to get there.
“e2E, with the help of YFM, is a testament to just how successful small businesses can be when they have the required funding to support the growth they are capable of.
“I hope to be invited back!”
Notes to editors
- e2E aims to make satellite and satellite-like communication services available to smaller businesses that find existing satellite options too expensive or prohibitive. It will do this by delivering niche communication data services using smaller platforms – thereby making the market more accessible to a wider audience.
- Established in 1999, e2E is headquartered in Welwyn Garden City, Hertfordshire, and is a leading UK provider of satellite communications engineering professional services. The company has recently opened an office in Gateshead, with the initial aim of supporting the launch and ongoing support of its SDR technology into the commercial marketplace in 2018.
- YFM Equity Partners is an independent private equity business that invests in small, innovative businesses across the UK – from offices in Leeds, London, Manchester, Birmingham and Sheffield.
About the VCTA
- The Venture Capital Trust Association (VCTA) is an organisation representing fund managers from ten of the largest VCT funds in the UK. Collectively, the funds comprise 75% of the industry, and manage £2.9 billion.
- VCTs are government-backed investment vehicles designed to channel capital into innovative, ambitious young firms.