Solihull-based Aero Engine Controls to receive share of £115m AMSCI funding
A £60m advanced manufacturing and technology facility in Solihull is to receive a share of a £115m Government funding initiative.
Rolls-Royce has set up the Aero Engine Controls business at the Birmingham Business Park to support its research and development programme.
Business Secretary Vince Cable announced the move during a speech at Warwick University where he was attending an event outlining the Government’s latest Industrial Strategy.
The money is being allocated through Round 3 of the Birmingham-based Advanced Manufacturing Supply Chain Initiative.
AEC, together with SME partner Aero Stanrew, will receive a £2.24m grant to develop innovative advanced electromagnetic technology in the UK. The companies have invested £4.73m of their own money which brings the total investment to £6.97m.
The grant is one of five projects to receive funding in Round 3 of the AMSCI.
Announcing the grants, Mr Cable said: “I’m pleased to announce that five projects from aerospace, chemicals, electronics and life sciences will receive over £115m of joint public and private investment from round 3 of AMSCI.
“This includes a £7m grant to capitalise on export opportunities for printable electronics – a project which will create and safeguard almost 500 jobs. To date, more than 180 organisations have benefitted from AMSCI, the majority of them SMEs.”
The new funding brings the total amount allocated under rounds 1-5 of the ADSCI to £245m.
The other projects receiving funding are:
• £7.72m in grant and loan funding to a five-strong consortium led by Oxford BioMedica to industrialise the production of gene therapy products. The consortium has also invested £1.43m of its own money. This brings the total investment into the project to £9.15m.
• £8.85m grant to an eight-strong consortium led by Proctor & Gamble to manufacture products that open up new markets for particle based products manufactured in existing UK plants. The consortium has also invested £9.04m of its own money, bringing the total investment to £17.89m.
• £6.94m grant to a 13-strong consortium led by the Centre for Process Innovation to capitalise on new global export opportunities for printable electronics. The consortium has also invested £2.89m of its own money, which brings the total investment to £9.83m.
• The final award is to a US company in the healthcare sector as part of a consortium. Using the funding, the consortium will increase its presence and functions within the UK.
Commenting on the awards, John Cridland, CBI Director-General, said: “We are calling for industrial strategy to focus on strengthening UK supply chains and this initiative is one of the best ways to deliver this.
“The winning bids will support new technologies and jobs in supply chains for key sectors including aerospace, chemicals, electronics and life sciences.
“To build on the scheme’s success, the Government should commit to funding AMSCI for the long-term and encourage greater participation from a wider array of industries, so that more businesses are able to benefit.”
