Middlesbrough’s Materials Processing Institute secures £750,000 NPIF investment
A not-for-profit research and innovation centre in Middlesbrough secured a £750k investment to accelerate and decarbonise the development of industrial and digital tools.
Materials Processing Institute has received the injection from the Northern Powerhouse Investment Fund (NPIF) – FW Capital Debt Finance. The investment will also help it support SMEs in the Tees Valley and beyond with the development and commercialisation of innovations and technology.
Founded as the British Iron & Steel Research Association in 1944, the Materials Processing Institute is now a globally recognised centre, focused on the developments in advanced materials, achieving industrial decarbonisation, deploying new digital technologies and reducing waste.
Other activities of the Institute include working closely with the steel industry internationally, and the materials industry domestically, as well as providing comprehensive support through its facilities and scientific and commercial expertise.
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 North East 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.”
Ben Houchen, Tees Valley Mayor, said: “Teesside, Darlington and Hartlepool have been a hotbed for industrial innovation for centuries; with world-famous industrialists such as railway pioneer George Stephenson and local chemist John Walker, inventor of the first friction match, honing their craft here.
“Organisations like Materials Processing Institute are hugely important to continuing that legacy and it’s fantastic to see the Institute secure this funding from the Northern Powerhouse Investment Fund. Investments such as this are key to creating new opportunities here in our region.”
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