Electric fire to be exported to America on coronavirus loan

0

[ad_1]

THE inventors of an award-winning electric fireplace will sell it internationally after winning six-figure funding.

The New Forest Electric Fire is described as a modern take on the traditional electric fireplace and is already sold across the UK.

It was developed by British Fires, which is part of the Focal Point Fires group in Christchurch. The company won an industry award for it, but was “nervous” about making a big investment in exporting during the coronavirus crisis.

The company secured funding from HSBC through the government-backed Coronavirus Business Interruption Loan (CBILS) program, allowing it to enter into a five-year distribution agreement for North America .

Carl Richards, President of British Fires, said: “Just before Covid took hold, our New Forest Electric Fire had just won a major industry award at the New Orleans show, giving us plenty of opportunities to partnership with well-connected distributors.

“Over the past few years we’ve seen a dramatic shift from solid fuel-burning appliances to electric fireplaces as an alternative source of heat, so we knew we had to act quickly to finalize and ship the product before the crucial winter months. , but we were nervous about making a big investment at such an uncertain time. The support from HSBC UK, led by our Relationship Manager Richard Hoyle, came at the right time and was instrumental in securing the distributor deal we chose.

Gareth Evans, Regional Director for Hampshire and Dorset at HSBC UK, said: “We knew British Fires had a small window of opportunity to launch their new product into the international market ahead of their competitors, so we acted quickly to place to make its 2020 ambition a reality.

“The CBILS loan means the first five containers will soon be on their way to North America in time for critical pre-winter sales. It has been a fantastic export success in some of the most difficult global market conditions we have seen; we are delighted to have been involved.

The New Forest Electric Fire uses patented flame technology and is certified and tested for the US market. The company’s US partner, Miles Industries Vancouver, owns the Valor brand and sells to 800 retailers across North America. British Fires will continue discussions with other distributors in Europe and the rest of the world.

[ad_2]

Leave A Reply

Your email address will not be published.