An innovative Winchester based business has been praised by a Government Minister in the House of Commons.
Steve Brine, Member of Parliament for Winchester and Chandler’s Ford, raised the growing cycle company Cytronex during questions to the Chancellor of the Exchequer and his team.
Cytronex, which launched in 2008, develops existing bicycles into e-bikes using their own manufactured technology. The success of this local business has drawn international attention and recognition as they were awarded an e-bike of the year award in 2021.
The MP told MP’s; “Cytronex are passionate about manufacturing their production Britain, they even assemble their own lithium battery packs in Winchester, in my constituency.”
And he asked; “What more can we do to help small businesses like them make the leap into mass production?”
The Financial Secretary to the Treasury, Lucy Frazer MP, responded on behalf of the Government saying; “Cytronex sounds like an absolutely fantastic company and it’s great to see it in Winchester. It's precisely the type of company that we want to support and it could benefit from the super deduction that we brought in recently. Under the super deduction every pound a company invests, their taxes are cut by up to 25p.
This particular type of investment will help manufacturing and the manufacturing sector.”
Mark Searles from Cytronex added; “I am very grateful to Steve for raising with the Treasury the key issue facing Cytronex – customers love our product yet we have to keep quiet about it because we still don’t have the space or resources to cope with demand. Many great ideas originate with small British companies then end up being manufactured on the other side of the world. Cytronex currently has 5 international patents granted and there is no reason why we could not compete internationally, manufacturing our green ebike kit on a large scale here. But manufacturing requires space and investment in automation. So far we have not found a way to make that leap, so I really hope we can establish a dialogue with the Minister. I think there are solutions here to help bring manufacturing jobs back to Britain.”