Mercia Fund Management invests in high-tech auto components firm
HENLEY-in-Arden-based Mercia Fund Management has invested £300,000 in automotive components firm Impression Technologies.
The Solihull-based business is an innovative aluminium forming company specialising in developing processes that maximise the strength and lightweight properties of aluminium.
The primary target for these processes is the automotive sector, where weight reduction has a significant impact on lowering CO2 emissions.
The investment will be used to fund further R&D of the patented aluminium forming processes, to manufacture demonstration parts and build a technical and commercial team as the company continues to target the auto sector.
Impression Technologies is already part of one UK government sponsored research programme with Lotus Cars and other UK partners and one EU sponsored project in the aerospace and automotive field, with 15 other partners including Lotus and the Fiat Research Centre.
Impression Technologies’ portfolio of patented technologies includes the HFQ method, used to form complex components from high-strength sheet aluminium.
The potential applications for components made using this process within the automotive, aerospace and rail industries are vast. The company also offers licensing, training and support services for forming processes, forming simulation and material test methods.
Dr George Adam, chief executive officer of Impression Technologies, said: “Automotive companies are striving to produce lighter weight cars that maximise fuel efficiency and meet the demands for lower CO2 emissions as set out in EU targets for 2015 and 2017.
“Aluminium, which combines strength and lightweight properties is already recognised as having the potential to meet this need.
“We currently offer patented processing solutions to produce strong, complex and rigid components made from aluminium and will be using Mercia Fund Management’s investment to further our R&D in this area.”
Mark Payton, managing director of Mercia Fund Management, said: ”Dr Adam’s wealth of experience within the automotive industry, combined with the company’s ground breaking processes makes Impression Technologies an ideal investment opportunity with real growth potential.”
