A STROUD company has won a national award for its green credentials.

HiMag Solutions Limited has received the Shell Springboard Award for the best low carbon business idea in the UK.

The award, which comes with a £40,000 prize, was given at a ceremony in London to recognise the innovation of the company's "planar transformer".

Dean Curran, company director, said: "The financial boost from the Shell Springboard award will unlock the huge market potential for our energy efficient transformers, a fundamental component of thousands of electrical devices. We can now realise our ambition of providing a technology which tackles energy inefficiency at the very core to manufacturers far and wide. Without this award we wouldn't be able to grow as fast but, above all, it's the accolade of being named the Shell Springboard winner which gives us real credibility in the eyes of our customers and potential investors alike."

The planar transformer operates at 99% efficiency, compared to 85% for a conventional transformer.

According to the company, the transformer is central to generating carbon savings in a wide variety of applications, from aeroplanes through to solar panels and electric cars.

Transformers control the voltage and current of the electricity which flows into electrical equipment and is used by consumers and businesses every day. HiMag Solutions will use the £40,000 prize money to recruit a product engineer and a design engineer, enabling it to take on contracts from high profile manufacturers. The company aims to double its workforce, currently 15 people, by November of this year.