Romax Technology, a world-leading gearbox, bearing and driveline engineering companies, is to move into the University’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% a year on average, creating jobs in the UK and overseas. The company hopes to create around 100 jobs in Nottingham and the UK over the next three to five years.

Romax, which has 105 staff in the UK, has outgrown its premises at Nottingham Science Park. The new, purpose-built, 3100m² premises at UNIP will incorporate offices, a training suite and laboratory space. It will bring all Romax’s UK staff under one roof and give it space to expand further.

The Romax building will mark the first bespoke commercial development at UNIP, costing £5.6m. The University will lease the premises to Romax for an initial period of 10 years.

Romax promotes green energy in the products and solutions it develops and the building will reflect this. Earlier this year, Romax announced an investment partnership with Moonray Investors (part of Fidelity International Limited), which will enable the company to accelerate the development of existing and new technologies in the wind power and transportation sectors and achieve their target growth rate of up to 40%.

Dr Peter Poon, Romax founder and CEO, said: “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 will help us to accelerate the development of our exciting portfolio of new products and services, especially those focused on wind energy.”

The University has a long history with Romax. The company has undertaken a Knowledge Transfer Partnership with the University, as well as collaborating on major energy and aerospace research projects and providing placement and full-time employment opportunities for students. Romax and the University were also instrumental in helping to persuade Changan Automobile, the Chinese car manufacturer, to establish its European R&D centre in Nottingham.

Professor David Greenaway, Vice-Chancellor, said: “To have Romax based at UNIP is an exciting prospect. Romax is a world-class business which will be undertaking cutting edge development work here and creating many jobs in the process. This commitment also further cements the exceptionally strong links that the University already has with Asia in general and China in particular. I am sure that both Romax and the University will benefit greatly from our continued close partnership.”
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