Materials Processing Institute to commercialise innovation

The UK's Materials Processing Institute has launched a venture arm to generate additional investment to expand its research across the foundation industries.

Through this commercialisation, the not-for-profit hopes to accelerate the adoption of the technologies and processes necessary to transition to a low-carbon economy.

The Teesside-based Institute, a UK centre for research and innovation in the steel and metals sector, is currently assessing potential areas for commercialisation, including the reduction of iron oxides using hydrogen; recovery of critical materials, including lithium, from used batteries; reducing nitrogen levels in steelmaking; and advances in powder metallurgy.

The initiative is headed by Dr Lucy Smith, appointed as Ventures Lead and supported by an expert committee.

She has been tasked with identifying and commercialising valuable assets capable of attracting the necessary investment to bring them to market.

These projects are fully, or part funded by Innovate UK, with the Institute retaining the intellectual property on its work.

Smith says, 'Commercialisation of the Institute's IP will raise the profile of the Institute, its achievements and knowledge, while establishing exciting new opportunities, relationships, and partnerships.'