READING, UK Oct. 21, 2016 – TOWER Cold Chain Solutions secures funding from the FSE Group to expand infrastructure and service provision to the pharmaceutical temperature controlled logistics industry.
TOWER Cold Chain Solutions, the Theale-based provider of reusable thermal packaging solutions to the pharmaceutical industry, is poised to develop its market with support from the Thames Valley Berkshire Growth Fund. TOWER’s containers, offering a powerful, passive and environmentally-sound way of transporting valuable pharmaceuticals, are in use with major pharmaceutical companies across the world.
With TOWER’s hubs already located in New York, San Francisco, Los Angeles, Brussels, Frankfurt and Amsterdam, as well as its UK base west of Reading, the company now intends to provide an even wider service to its customers. The new investment will be used to grow TOWER’s fleet of rental containers as well as to open new hubs in Philadelphia and Singapore. Requirements outside these locations are met with a DHL-supported repositioning service that allows customers to drop off TOWER containers in a wide range of strategic locations.
Chris Pollard, CEO of TOWER, explains “We are very proud of the fact that TOWER’s KTM range of modular pallet shippers are in such demand across the pharmaceutical industry. We are therefore building new containers to meet this demand and to keep TOWER at the forefront of a rapidly-expanding and dynamic global market. As regulation forces more and more drugs across the world into an audited supply chain, the need for containers such as TOWER’s increases.”
“It is not enough just to create the stock, because the market needs containers to be located close to major manufacturing centres, so our new hubs will expand our capability to match availability to demand. We are delighted that the FSE Group has decided to support TOWER, a local business manufacturing all its products in the UK, exporting globally, and we are grateful to them for the measured and structured process that allowed the investment to take place.”
Bradley Jones, Fund Manager at the FSE Group comments, “We are extremely pleased to announce our investment into TOWER Cold Chain Solutions. We look forward to working with TOWER as they continue to scale-up and expand into new and emerging markets. We wish them all the best for the future”.
About The FSE Group
The FSE Group provides tailored funding solutions and support for ambitious and innovative small and medium enterprises (SMEs), to help them achieve their maximum potential. This includes the Thames Valley Berkshire Growth Fund, which is one of a number of Local Enterprise Partnership backed funds that The FSE Group manage. For further information about the range of products and services offered by FSE, visit www.thefsegroup.com
About TOWER Cold Chain Solutions
TOWER Cold Chain Solutions’ passive KryoTrans thermal containers provide a solution to reduce the total cost of shipping. TOWER also provides a developing global infrastructure, with seven hubs across the US and NW Europe creating a flexible service. TOWER is based at Theale, near Reading, UK, less than 30 minutes west of London Heathrow, and its other hubs are in New York, Los Angeles, San Francisco, Amsterdam, Brussels and Frankfurt, all supported by a global repositioning service that allows customers to take KryoTrans containers into and from a wide range of global locations.