Firm raises £1.3mln to bring ceramic matrix composites to mass market
The funding will enable High Temperature Material Systems (HTMS) to open a new production facility and office in the UK.
The HTMS team. Pictured from left are Will Larkin, Claire Gwilliam, Dr Richard Grainger, Dr Danilo di Salvo, Tim Bailey, Maz Craig and Scotty Whitelaw
© High Temperature Material Systems (HTMS)HTMS specialises in ceramic matrix composites (CMCs), which combine the heat-resistant properties of ceramics with fibres for added strength and flexibility.
CMCs – which are used on the underside of the Space Shuttle - are more lightweight than metal and can withstand extreme environments. However, the huge cost of production means their use has been very limited to date.
Dr Danilo Di Salvo and Dr Richard Grainger of HTMS aim to make the high-performance materials, currently used in the aerospace industry, available for mass-market applications such as electric battery casings and automotive parts.
The majority of the recent funding has come from the British Business Bank’s South West Investment Fund and Midlands Engine Investment Fund II, through their respective fund managers Maven Capital Partners and Mercia Ventures.
Other investors included SFC Capital, DeepTech Labs, the US venture fund Plug and Play and angel investors.
The funding will enable the company to open a new production facility in Wiltshire and an office in Leamington Spa, and continue its research and development.
HTMS is already working with automotive and battery manufacturers, as well as Cranfield University and other research institutes. As its materials can withstand temperatures of up to 1,400°C, the company is currently focusing on their use in exhaust parts, brake shims and electric vehicle battery casings – three of the key thermal challenges facing the automotive industry.
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