Materials Processing Institute, a not-for-profit research and innovation centre based in Middlesbrough, has secured a £750,000 investment from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.
Founded as the British Iron & Steel Research Association in 1944, the Materials Processing Institute is now a globally recognised centre for the innovation, development and commercialisation of technology.
Research is focussed on developments in advanced materials, achieving industrial decarbonisation through a low carbon and hydrogen future, deploying new digital technologies and reducing waste through a circular economy.
Funding from NPIF – FW Capital will allow the Institute to invest further into its asset base and technologies, improving research capabilities and its ability to rapidly accelerate industrial innovations, with a greater focus on decarbonisation and the production of new digital tools.
This investment will also enable the Materials Processing Institute to expand the support services offered by its SME Technology Centre. Key activities of the Institute include working closely with the steel industry internationally, and the materials industry domestically, and also supporting small and medium sized enterprises in the Tees Valley and beyond with the development and commercialisation of innovations and technology.
The Institute provides comprehensive support through its facilities and scientific and commercial expertise, this includes on-site pilot plant, scale up and demonstrator facilities creating new capability in advanced materials development, hydrogen as a low carbon fuel in steel and metals production, and application of digital technologies in metal processing. The Institute’s equipment and service also enable businesses to test, develop and demonstrate new technologies without the risks associated with full scale production.
Chris McDonald, CEO at the Materials Processing Institute, said: “There has been a huge uptake in demand for new innovation and digital technologies in recent years, with more businesses also looking to decarbonise their operations.
“I firmly believe we have the talent and means here in the Northeast to provide solutions to many of these contemporary challenges, and this funding from the Northern Powerhouse Investment Fund will help us to further that cause.”