A Warwickshire company which designs and manufactures power electronics has expanded after two successful years of growth.
Co-founded by Pete James and Mike Evans in 2011, Lyra Electronics creates a wide range of high-efficiency power electronics for clients in a range of sectors such as automotive, energy and aerospace.
The company has grown from a team of 12 employees and a turnover of £900,000 in 2019 to a 37-strong team of staff and a turnover of around £2.6 million in 2021.
Now the firm - who says the growth seen in the last two years has been the 'fastest yet' - has opened a new design office at the University of Warwick's Wellesborne campus, which is already home to Lyra Electronics' lab.
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Pete said: "We have grown very quickly in a short space of time.
"We had been based at the Wellesbourne campus of University of Warwick since 2015, and our engineers needed more space to separate their design work from their testing and prototype manufacturing work. Everything was done in our one office and it was becoming very cramped after our rapid growth.
"The University of Warwick Science Park was able to secure us a new office, which means we can spread out our work and make our designing and testing processes more efficient."
Matthew Taylor, chief operating officer at Lyra Electronics, added: "It's an exciting time for us – we have 12 to 13 projects on the go at the moment thanks to strong demand from the industries we work with and our recent successes.
"We're currently working with the likes of JLR, BMW, the Advanced Propulsion Centre, and even a project to convert all ambulances into zero-emission electric vehicles. We're hopeful our new design studio will enable us to work more efficiently on these many projects and will give us room to expand even further."
Dirk Schafer, SME engagement lead at the University of Warwick Science Park, said: "It's fantastic to see how much Lyra has grown since Pete and Mike started it by themselves.
"We're really pleased that they now have their design office and we can't wait to see what the future holds for them."
