Paralloy Group received the loan from the Teesside Flexible Investment Fund which is managed by FW Capital with investment from the Teesside Pension Fund. It is the first investment since the launch of the £20m fund last year.
Paralloy has specialised in the transformation of raw elements into products that power the Syngas and Ethylene, ethylene, and syngas industries.
Operating from five sites in the UK, including in Middlesbrough and Sheffield, Paralloy employs more than 500 people in the North East and more than 1,000 globally.
