With the judging panel now scrutinising entries for this year's Hampshire business Awards, Bond Pearce is delighted to see last year's winner of its Innovation Award, SP Systems, go from strength to strength.

The Isle of Wight-headquartered company, which specialises in the development and manufacture of strong but lightweight composite technology solutions, has set itself an aggressive growth target over three years as the market for its products grows in the marine, automotive and wind energy sectors.

Bond Pearce partner David d'Arcy Hughes said: "SP Systems typifies the type of company we are seeking for this year's Bond Pearce Innovation Award. Since winning last year, the company has continued to innovate and has maintained its market-leading edge through its passionate commitment to research and development."

SP's managing director Paul Rudling said: "We were delighted to win the Bond Pearce Innovation Award and to be recognised by our peers as one of Hampshire's best businesses. The last nine months has been a period of sustained growth for SP and we wish this year's entrants all the best."

SP launched its groundbreaking SPRINT technology in 2001, making the construction of high-performance composite components easier, faster and more cost-effective.

For these reasons, SPRINT has been used in applications where previously composite materials were thought of as too expensive. SP's composites are stronger, lighter and more durable than traditional materials such as aluminium, steel or wood, making them ideal for use in almost every large, high-performance structure whether on land, at sea or in the air. Over the past year, SPRINT's contribution to the composites industry has also been recognised by the various awards it has received across different market areas.

SP's Automotive Team has continued to break new ground, having seen the results of its work in the structure and bodywork of the TVR Tuscan R car, in an innovative design from Lotus in the form of its Type 119, and the launch of a range of automotive-specific products which enable a Class-A surface finish with minimum labour.

A particular growth area for SP has been the wind energy market.SP is expecting to see substantial growth in the domestic wind energy market in the coming years following the government's renewed commitment to renewable energy in its Energy White Paper earlier this year.

SP supplied structural materials to over half the challengers in the Louis Vuitton Cup and the 31st America's Cup, and was delighted to see the 90-foot maxi Alfa Romeo record the second fastest time for a line honours winner in the Rolex Sydney-Hobart race last December. Alfa Romeo is one of the latest boats in a line of powerful, lightweight, high-performance maxis to be designed by Reichel/ Pugh and engineered by SP Technologies, the world-renowned structural engineering division of SP.

Last Month SP announced a collaboration with three other market-leading composite companies to provide a broader and unrivalled range of products and technologies to its customers, Now SP can offer more rounded and complete solutions than ever before.

Focused not just on external customers but also on internal ones, SP received recognition for its work in the training and development of its employees through the award for 'Commitment to Life Long Learning' at the Island Skills and Learning Awards in February.