THE next generation of products and processes will continue to be developed in North-East laboratories thanks to millions of pounds of new investment.

The Centre for Process Innovation (CPI) has been granted £107m of Government funding over the next five years to help develop technologies for manufacturing.

Bosses say the funding, announced during today’s Cabinet visit to the North-East, will help CPI to continue its innovation work and bring new products and processes to market.

The Northern Echo understands a number of jobs could be created as a result of the funding, both at CPI and at partner companies.

Tees Valley Mayor Ben Houchen described the annoucement as a "monumental vote of confidence in the Tees Valley”.

The funding will help to increase CPI's work in markets such as healthcare, electronics, energy, aerospace, chemical processing, food and agriculture, transport and construction

It will be delivered as part of the High Value Manufacturing Catapult (HVM Catapult) programme, which supports UK manufacturing in the commercialisation of cutting-edge technologies.

Nigel Perry, chief executive of CPI, said: “We are delighted to receive confirmation of this funding.

“Our deep understanding of innovation processes, combined with our outstanding technical expertise and state-of-the-art facilities help companies develop, prove and prototype next generation products and processes that deliver highly-skilled jobs and sustained economic growth for the UK.

“This support will allow us to continue providing that vital support and position CPI as an increasingly important player in the Government’s modern Industrial Strategy and Northern Powerhouse.”

Business Secretary Greg Clark added: “The UK has a world-beating reputation for innovation and we are building on this strength as part of our Industrial Strategy with the largest investment in research and development in 40 years.

“This investment will drive local growth and innovation across the country, creating more opportunities for high-skilled, well-paid jobs across the country.

“The Catapult network plays a key role in building on UK strengths in sectors and technologies that are going to be in high demand in the years ahead, bringing ideas to products and services on the market.”

Mr Houchen added: "Not many Teessiders will be aware of CPI, but they’re doing some ground-breaking work right here in Redcar.

"I’m over the moon that brains in the Tees Valley have been recognised by Government with this massive funding commitment.

“This cash is a huge vote of confidence in Tees Valley’s expertise in next-generation manufacturing.

"Along with the announcement that we are working with Government on a Local Industrial Strategy, it highlights just how much our region is punching above our weight in what we contribute to UK plc.”

Dick Elsy, chief executive at the HVM Catapult, said: “The five-year funding package allows us to build on our early successes, broadening our productivity impacts while equipping British firms with the manufacturing innovation they need to compete in uncertain and challenging international markets.”

CPI's sites include its Darlington-based National Biologics Manufacturing Centre and its National Formulation Centre in NETPark in Sedgefield, as well as bases in Newton Aycliffe and Wilton, in Redcar.