Trust Electric Heating has been accepted onto an business development accelerator to set up production of its radiators in the USA.
The company has been accepted onto New York State Energy Research and Development Authority (NYSERDA)’s Scale For ClimateTech development programme.
According to Trust Electric Heating, the acceptance followed a two-week visit to the USA where company’s leadership engaged with American business leaders, investors and government agencies. This visit provided invaluable insights into the US market and the opportunities available for expansion, it noted.
A statement said that trade in goods and services between West Yorkshire and the US is worth over £4bn, with almost 2,000 local businesses exporting goods to the US. Trust Electric Heating said the expansion represents a huge opportunity as 1% of the market is worth around £1.3bn, whereas in the UK the equivalent share of the industry is around £14m.
The company added that the backdrop of this achievement is the complex landscape of international trade, particularly the tariffs imposed by President Donald Trump. While these tariffs are posing challenges for many UK businesses, it cited, they have also created opportunities for companies willing to establish a presence in the US where there is consultancy support alongside substantial grants, loans and tax credits.
Fiona Conor, managing director of Trust Electric Heating, said: “We are very excited about the potential of growing our business within the US. Our visit was eye opening in helping us to understand the potential of our heating solutions within the American market. Our NEOS radiator is designed to be both energy-efficient and user-friendly, making it an ideal solution for the American homes.
“While tariffs can initially seem like a barrier, they also encourage businesses to set up operations within the US. The tax and funding incentives available to manufacturers are appealing and can significantly offset the initial costs associated with expansion.”
Alex Wright, international markets development manager at West Yorkshire Combined Authority, added: “Trust Electric Heating’s inclusion in the Scale For ClimateTech programme is a testament to the quality and innovation of West Yorkshire’s businesses.
“Exporting our expertise and products to the US market not only strengthens our local economy but also showcases the best of our region’s manufacturing on a global stage.”