An engineering company based in Sheffield has been successful in securing a R&D tax credits claim of £73k, now bringing their total in claims to £247k in just 4 years and 3 claims for their innovative work particularly in the oilfields sector, a sector that is constantly faced with the issue of diminishing oil supplies and the need to extract oil from more difficult places.
To meet this challenge, our client has to continually push the technological boundaries of the manufacturing process. More sophisticated alloys are significantly more difficult to machine, and react differently in different situations. Because they are much tougher, more heat or corrosion resistant, the stresses involved in the forging or forming process increase significantly. As such, they respond very differently to more traditional metals, necessitating new manufacturing techniques to be developed.