Craven Arms VR specialist preparing for global growth with US office openings

Igloo Vision, a virtual reality pioneer which manufactures huge fibreglass domes projecting simulations onto their walls, marked a decade of business on Thursday.

Originally launched by Colin Yellowley and Jamie Burridge from a lock-up just outside Ludlow, the company is on the cusp of huge multi-national growth thanks to deals with some of the world's biggest companies.

The Igloos use a series of projectors and adapted software to allow users to enter a virtual reality space together, and can be adapted to a variety of software. With the growth of 360-degree cameras and live-streaming, they can even enter virtual reality which is being broadcast live.

"The business has grown," said chief executive officer Dennis Wright, who was an early investor in the business and has a background in supporting tech start-ups.

"We have found ourselves in a position where we are the only portable shared VR system technology in the world. That's why our projects are going worldwide."

The company's reputation grew in its early days when Channel Five's Gadget Show used an Igloo as part of an immersive gaming experience using the then-newly launched Battlefield 3.

After that it was picked up by the Ministry of Defence to create realistic battle conditions in which to train soldiers.

Now it is used for a gamut of purposes, including by architects modelling new buildings, and huge companies including BP for training people who will be working in dangerous conditions in the field.

Mr Wright added: "Last year we grew 100 per cent – we funded our own growth and made £500,000 on the bottom line.

"This year we are targeting 100 per cent growth again, and we will achieve £5 million plus in billings.The following year we are aiming to be at £8 to £9 million and in five years' time we will be at about £35 million, producing £10 million in profits.

"We want to become a £100 million company and there are one or two things that need to happen to allow us to do that."

Part of that plan will see the company roll out a network of branches across the globe, beginning with Mr Yellowley relocating to New Jersey to help roll out the brand in the USA.

That will be followed with further offices in Los Angeles and in Canada, with plans also in place to open a base in Australia to target the Austalasian market, with sales already rolling in in Hong Kong, Korea and Shanghai.

"Our range of customers is incredibly broad," said Mr Yellowley. "There are areas we have identified as high value businesses.

"The military and the energy sector are obviously good and we are gaining traction in the film industry."

He added: "While the VR headset market is perfect for consumers and individuals, the commercial market needs something different and is changing rapidly from being an awkward and isolated experience to one where a business’s potential customers, partners or employees can sit relaxed or stand together and view and interact with it.

“We’re continuing to see strong growth in the US market and the new offices will enable us to serve existing and new customers better.

"US customers are now putting big budgets into creating 360-degree and 3D VR content, whereas the UK remains more cautious in its adoption. Yet the UK is still creating the world’s best VR content and the skills to do so remain here, at least for the time being.

“While many companies are just starting to understand how VR can work in a commercial environment, they do realise that it isn’t just the preserve of the gaming industry any more."