The expanding business is one of Wales' leading exporters.

Powys-based variable frequency drives manufacturer, Invertek Drives, plans to create at least 250 jobs over the next five years.

Th expansion comes as it continues to invest in the design and production of its energy-saving variable frequency drives used to control electric motors. The company, which is celebrating its 25th anniversary this year, currently employs 380. Last year it posted a 45% rise in revenues to £76.3m. The business was acquired in a £100m deal by Japanese firm Sumitomo Heavy Industries in 2019.

The Welshpool-based company, which exports 95% of its products, has sales and service partners in more than 80 countries throughout the world. It currently employs 380.

Earlier this year it announced plans to build a new innovation centre and HQ adjacent to its existing site, having acquired the land from the Welsh Government. It plans to develop next-generation electric motor control technology at its new facility, for which a planning application is close to being finalised before being submitted.

Chief executive of Invertek Drives Adrian Ellam said: “We’re already in the process of building a 2,750 sq metre extension to our existing 5,500 sq metre manufacturing and distribution facility which will allow us to increase production capacity to more than 1.2 million units annually. This will come on stream in early 2024.

“As a result of this, we’ll be creating a range of roles in the areas of production, distribution, and manufacturing engineering to support this.

“In addition, we will are planning to significantly expand our innovation and research and development teams to create next generation electric motor control technology. This includes a new Innovation and HQ Centre at our UK base. This is planned to be completed in early 2025.”

A planning application for the centre is in the process of final preparations before submission.

Shaun Dean, chairman of Invertek Drives and senior vice president of its parent company, Sumitomo Drive Technologies, said: Since Invertek was acquired in 2019 we have invested more than £30m into the business at Welshpool. We have an amazing team and facility that is a world-leader in the development and manufacturing of variable frequency drive technology, here in the UK.”

“The demand for global energy reduction highlights the importance of variable frequency drives in accurately controlling electric motors for optimal efficiency.”

“We anticipate significant growth in this area, and this supports Sumitomo Drive Technologies global commitment to solving environmental and social solutions through its products and services”.

“It’s an exciting time at Invertek Drives and we’re proud to be creating good quality, long-term employment and Global career opportunities at our Welshpool HQ where we have a committed team.”