A SPINOUT firm from the University of Southampton has received £3 million investment which will help create more than 30 jobs and support the expansion of world's first self-powered rail monitoring system

Romsey-based engineering firm Perpetuum Ltd has secured a second round of funding from the national Rail Supply Growth Fund for its innovative rail condition monitoring system

The investment will help create 32 jobs more than doubling the workforce to 60 at the company based on the Abbey park Industrial Estate.

Perpetuum’s self-powered wireless system – the first of its kind in the world – helps rail firms improve their reliability and safety while cutting operating costs.

Specially designed wireless sensors monitor and report the condition of key functions such as wheels, bearings and gearboxes, as well as the state of the track and passenger ride quality.

Through Perpetuum’s intelligent interpretation of real-time data it can ensure rail operators can react quickly to actual and developing problems.

By converting the vibrations from trains into energy, the system is entirely self- powered.

Steve Turley, chief executive officer at Perpetuum, said: “At Perpetuum we’re focused on revolutionising the rail industry by helping clients to improve performance and efficiency, minimise disruptions and deliver seamless passenger experiences, while also benefitting from significant cost savings."

"Over the past few years we’ve generated real momentum, with more clients and industry partners recognising the potential of our conditional monitoring technology. This investment from the Rail Fund will help us to maintain this momentum, refine our technology and pursue more business to accelerate growth."

Founded in 2004 as a spin-out of Southampton University, Perpetuum has grown rapidly, and has delivered work for a range of national and international clients including ScotRail, Great Northern, Southeastern Railways, SJ Swedish railways and Transport for New South Wales

The national Rail Supply Growth Fund is available to businesses across England, managed by Finance Birmingham and supported by central Government.

It provides loans and grant funding to businesses offering services and products that operate in or cross-over into the rail industry.

Jack Glonek, investment director at Finance Birmingham, said: "Perpetuum has an exciting future having developed a product that uses innovative methods to bring much needed new technology to the rail industry on both a national and international basis.

"Driven by a dynamic management team and supported by a highly skilled and resourceful workforce, it has achieved strong growth and an impressive list of clients. Finance Birmingham was keen to help support financially for its continued success, and we look forward to seeing how the next exciting chapter of Perpetuum’s story unfolds."