Ormskirk Vegan snack manufacturer Nutreelife, founded in 2017, has invested in new equipment aiding the creation of jobs and increasing production.
The new equipment has enabled them to triple the production of protein bars, snacks and other plant-based snack products to meet growing demand.
With the investment being backed by Siemens Financial Services, Nutreelife were able to to spread the equipment costs over five years. The deal also met the conditions for the UK government’s super-deduction tax initiative, whereby a company investing in qualifying new plant and machinery assets is able to claim 130 per cent of the equipment’s value in year one.
“We were ready to invest in the next stage of business development. We needed new equipment to meet demand but we also wanted to preserve our cash flow to deal with the volatility of the pandemic.
Despite the ups and downs of the pandemic, the new production line has helped us to keep things moving. As demand rises we’ve been able to take on much more staff and use our working capital towards stockpiling raw materials when needed.”Patrick Mroczak, CEO at NutreeLife