THE Materials Processing Institute, a not-for-profit research and innovation centre based in Middlesbrough, has secured a £750,000 investment.

The money comes 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 in its assets 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.

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.”

Ben Houchen, Tees Valley Mayor, said: “Organisations like Materials Processing Institute are hugely important to continuing a legacy of industrial innovation and it’s fantastic to see the Institute secure this funding from the NPIF."

 

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