Funding helps e-bike firm shift up a gear

Pictured, from left to right, are Claire Hinde, business funding executive at UMi; Richard Boulger, founder of Velo Electric; and Peter Taylor, business development manager at UKSE

A County Durham electric bike specialist is gearing up for growth after securing funding to expand its product range and help more businesses embrace greener transport.

Consett-based Velo Electric, founded and run by Richard Boulger, has received a regeneration loan from UKSE, Tata Steel’s business support subsidiary, to support its growth in both the consumer and commercial markets.

The business, which has been trading for three years, operates from premises on the former Consett steelworks site and specialises in electric bikes and cargo bikes.

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