UK Steel Enterprise has achieved a substantial milestone by supporting its 7,000th business.
Micropore Technologies, a leader in micro engineering, has notably benefitted from recent investments, aiding its technological advancements.
A Milestone in Investment
A significant milestone has been achieved by UK Steel Enterprise (UKSE), as it reaches its 7,000th business investment. An award-winning micro engineering company, Micropore Technologies, has played a key role in this achievement with its innovative technology. This accomplishment highlights UKSE’s ongoing commitment to fostering business growth across various sectors.
In a notable development, Micropore Technologies has secured a £100,000 second investment from UKSE. This funding is pivotal for the company as it progresses its unique membrane emulsification process from the laboratory to full-scale manufacture. Two new systems are poised to launch, promising to enhance industrial manufacturing capabilities.
The Journey of Micropore Technologies
Originating as a spin-out from Loughborough University, Micropore Technologies has relocated to Teesside. This strategic move was influenced by the area’s strong formulation knowledge base, skilled workforce, and investor calibre. The company has established its presence in the USA, India, and South Korea, broadening its market reach extensively.
Micropore Technologies has been on a path of innovation, notably winning the prestigious 2018 NEPIC Award for Innovation. Its technology, which uses a sieve-type membrane for particle engineering, is attracting interest from sectors such as pharmaceuticals and aerospace for its ability to produce high-quality, cost-effective products.
CEO Dai Hayward stated, “We have launched twin systems capable of continuous manufacture of high-quality emulsions, offering a breakthrough that traditional homogenisers cannot match.” This development marks a significant step in the commercialisation of their pioneering technology.
Impact on the Steel Areas
UK Steel Enterprise, a subsidiary of Tata Steel, has been instrumental in supporting 7,000 UK businesses in steel areas.
With an investment of £94 million, UKSE has facilitated the creation of 77,500 jobs, contributing significantly to economic growth.
This investment strategy also includes providing office and workshop space for 2,500 businesses and community support amounting to £10 million.
UKSE’s Role in Business Growth
Simon Hamilton, Managing Director of UKSE, emphasised the importance of their role in supporting high-tech companies like Micropore. His sentiments resonate with the success stories emerging from UKSE’s four-decade-long journey, marked by strategic investments and job creation.
It’s noteworthy how businesses like Micropore return to UKSE for further investment. These ongoing partnerships signify trust and the potential for continued growth in various high-tech sectors.
Micropore Technologies’ Expansion Plans
With a growing team now numbering seven, Micropore is capitalising on opportunities within and beyond the UK. Expansion strategies focus on tapping the considerable potential of their existing UK market.
The company’s recent endeavours in India have resulted in securing a new contract for a pharmaceutical application.
Such ventures are pivotal as they plan return visits to the UK, ensuring their expansion strategies are well-executed. South Korea represents another exciting market with promising opportunities.
The Future Outlook
Micropore Technologies’ innovative process is continually attracting a global clientele. The company’s growth trajectory is bolstered by its strong presence in strategic international markets, paving the way for future advancements.
The support from UKSE and other investors has been crucial in accelerating their business objectives. Continued funding and partnerships will enable Micropore to maintain its competitive edge and drive industry innovations.
Supporting Innovation and Community
UKSE’s investments are not solely for business growth; they are community-centric as well. Their £10 million support for community projects underscores their commitment to regional development and societal impact.
The milestone reached by UK Steel Enterprise with its 7,000th investment marks a significant achievement in both business growth and community development. Their strategic focus on innovation and industry support continues to set a benchmark, while companies like Micropore Technologies exemplify the success that can be accomplished through such dedicated investment initiatives.
