Romax Technology has recently signed an agreement to move into new premises at the University of Nottingham's Innovation Park (UNIP). Romax has rapidly expanded its simulation technology and drivetrain design business and has been growing at a rate of around 20 percent per annum on average, creating many new jobs both in the U.K. and overseas. The company hopes to create around 100 new jobs in Nottingham and the U.K. over the next three to five years. Currently based at the Nottingham Science Park, Romax, which employs 105 staff in the U.K., Romax has outgrown its current premises and has also been renting additional units on the park to accommodate its employees. The new, purpose built, 3,100 m2 premises at UNIP will incorporate offices, a training suite and laboratory space. It will enable Romax to bring all of their U.K. staff under one roof and will also give them space into which to grow in the future.
A large number of businesses are already based at UNIP, but the Romax building will mark the first bespoke commercial development at the park. The cost of the development is £5.6 million, and the University will lease the premises to Romax for an initial period of 10 years.
Dr. Peter Poon, founder and CEO of Romax said: "I am delighted to be signing this lease. The University of Nottingham Innovation Park is a great location for Romax. Not only does it offer us a purpose built facility with excellent campus services, it also maintains strong links with the University, which is important to us, as they share our ethos for innovation. This expansion enables us to continue to develop our simulation technology and drivetrain design business and, in addition, we will also be able to create high quality jobs for the local area. This in turn will help us to accelerate the development of our exciting portfolio of new products and services, especially those focused on wind energy."