A marine engineering firm in Caerphilly has expanded its site with the support of a six-figure loan from Lloyds Bank.

Edwards Diving Services has purchased a new 9,000 sq ft property next door to its current premises to support its ongoing growth.

It will also provide headroom for the business to diversify into new areas, including development of eco-friendly microhydroelectric technology, which uses flowing water to generate electricity.

Additionally, the firm has invested in new equipment to perform sonar inspections. The cutting-edge technology means it can take measurements underwater and identify problems from hundreds of metres away, compared to just a few metres away that previous machinery had allowed. This will enable the business to deliver more complex projects for new and existing customers.

Edwards Diving Services offers a range of underwater engineering services, from installing metal structures to the isolation and maintenance of reservoirs.

As well as working on a number of high-profile jobs in the UK – including repairs on the historical Brighton Pier and diving in a tunnel 30m deep at Talybont Reservoir – the firm has established a strong reputation abroad, working on projects in Sweden, France, Italy and Kuwait.

The business has taken on nine new members of staff during the past 12 months and is hoping that the new expansion will mean it can increase its team of nearly 50 employees even further in the coming months.

Paul Edwards, director at Edwards Diving Services, said: “Demand for our services has gradually increased over the past few years and the time was right for us to look at expanding our premises here in Caerphilly. It gives us the capacity to offer even more services for our customers with new equipment and research into new areas, as well as continue to grow our team, to stand us in good stead for the future.

“Lloyds Bank has consistently been by our side throughout a number of years and played a vital role in making this move happen. They’ve been proactive in helping us to find the best solutions to meet our needs, and ultimately helped us to progress with the move with complete confidence.”

Michael Hayes, relationship manager at Lloyds Bank, said: “Edwards Diving Services is an innovative, forward-thinking business and a fantastic example of a local firm that has enjoyed consistent growth for a number of years now. It’s been a pleasure to work with them and to support them as they take this next step in their journey.

“We will remain by their side in the months and years ahead, and continue to support them and other businesses in South Wales achieve their growth ambitions in the coming months as part of our ongoing commitment to helping Britain prosper.”