“Exciting, Dynamic and Fast-growing” – just a few of the attributes which have seen Bowman Power included on a list of 1000 Companies to Inspire Britain.
Described as a landmark report, 1000 Companies to Inspire Britain was compiled by the London Stock Exchange Group as a celebration of some of the “most exciting small and medium-sized enterprises in the UK”.
While the companies were not ranked, Bowman Power featured in the manufacturing sector of the report, one of 127 companies listed in the South East of the UK.
Introducing the report Xavier Rolet, CEO of the London Stock Exchange Group, identified “an exciting subset of fast-growing, dynamic businesses” – including Bowman – among the UK’s 4.5 million SMEs.
He added: “These ‘gazelle’ companies, as the CBI calls them, or the ‘vital six per cent’, as think-tank Nesta describes them, are of exceptional importance to UK economic growth and job creation.
“Our own research, and that of many other organisations, has shown that it is almost exclusively these companies that have generated new, net job creation in the UK since the financial crisis. Gazelle companies, post-2007, are proving to be the lifeblood of the UK economy.
“Celebrating the success of these SMEs is a shockingly under-reported story and we are determined to change that.”
Profiled in the report, Bowman’s green exhaust energy recovery technology was highlighted as addressing “two of the big issues facing the world: reducing C02 emissions and improving fuel consumption”.
Bowman CEO Dr Toby King said: “There is a huge scope for growing our business – so far we have penetrated less than one per cent of our target market. We believe we can grow turnover to more than £50 million in the next five years, trebling our workforce in the process.”
“An important market for us is customers that want power, but are not on the grid so can’t get it the traditional way. For example, islands in the Caribbean have huge diesel generators to provide much of their energy needs, and we can reduce their diesel bill by about eight per cent. That might not sound much, but when your diesel bill is $20 million a year, it is significant.
“We have concentrated hard on quality and cost. In a year, we reduced the build cost of our product significantly and improved its reliability three-fold.”