A Hammersmith gold dealing company which stores 16 tonnes of the precious metal in vaults across the world has received a top enterprise award.
BullionVault's director, Paul Tustain, was last week (May 27) presented with a Queen's Award for Enterprise Innovation at his King Street Cloisters headquarters.
Employing 15 staff, BullionVault allows private investors from across the world to buy and sell gold bullion over the internet and store it securely inside a network of vaults.
Previously owners of the metal had to buy and sell it using gold coins.
Last year BullionVault’s handled £252 million of business, netting £1.8m in profits and becoming one the world's largest stores of privately-owned investment gold bullion. Today it cares for over £330m worth of gold as investors look to transfer their assets into the precious metal during the recession.
Mr Tustain, who launched the business from a rented garage in 2005, said: "I'm honoured the Queen has recognized BullionVault for making gold simpler, safer and cheaper for private investors. It's one thing to spot an opportunity, but quite another to make it happen and I'm very proud of the hard work done by the BullionVault team."