High Temperature Material Systems (HTMS) has secured £1.3m to bring ‘supermaterials’ to mass market, Maven contributed £350,000 to this funding round through the British Business Banks South West Investment Fund.
With over 20 years’ experience in the composites industry, engineers Dr Danilo Di Salvo and Dr Richard Grainger, have discovered how to significantly reduce the energy, time and cost involved in producing Ceramic Matrix Composites (CMCs). After developing the process at home, they established HTMS in 2021 with the aim of bringing CMCs to a wider audience and creating the UK’s first domestic supply chain.
HTMS specialises in CMCs, which combine the heat-resistant properties of ceramics with fibres for added strength and flexibility. CMCs 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. The business aim to make these high-performance materials currently used in the aerospace industry available for mass market applications such as electric battery casings and automotive parts.
Currently based in Bristol with a team of eight, HTMS will use the investment will to open a new production facility in the South West and an office in Leamington Spa and continue its research and development. Following its move to the new and larger premises, it expects to create 40 new jobs over the next four years.
The majority of the £1.3 million investment has come from the British Business Bank’s South West Investment Fund and Midlands Engine Investment Fund II, through respective fund managers Maven Capital Partners and Mercia Ventures. This marks the first time the two regional funds have collaborated on an investment, with each providing £350,000. Other investors include SFC Capital, DeepTech Labs, the US venture fund Plug and Play and angel investors.
HTMS is already working with leading automotive and battery manufacturers, as well as Cranfield University and other research institutes. As its materials can withstand temperatures of up to 1400°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.
“Richard and I saw the potential of advanced thermal composites but were frustrated with the high cost and lack of a UK supply chain. This is a fantastic moment for British manufacturing. We are excited to scale up manufacturing of our world-leading products and look forward to growing our business and championing British innovation.”
Dr Danilo Di Salvo, CEO and Co-founder of HTMS
“HTMS has developed a truly differentiated manufacturing process for high-performance ceramic composites, combining technical excellence with commercial insight. As industries seek lightweight, heat-resistant materials that are scalable and sustainable, HTMS’s platform is well placed to deliver real impact. We are pleased to support Danilo, Richard and the team as they enter their next stage of growth.”
Rafi Khan, Investment Manager at Maven
“This investment marks the first collaboration between the South West Investment Fund and the Midlands Engine Investment Fund II, showing the strength of our regional funds working together. By supporting HTMS’s expansion, we are helping to create skilled jobs, strengthen the UK’s supply chain for advanced materials, and support one of the key growth sectors identified the delivery of in the of the UK’s modern Industrial Strategy.”
Lizzy Upton, Senior Investment Manager at British Business Bank
SWIF Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the South West of England. To date, the Fund has backed a number of innovative businesses across the region, including: sustainable packaging innovator, Kelpi, global wireless solutions provider, Blu Wireless, healthcare buy and build operator, Covestus, Microsoft adoption specialist, Changing Social, leading robotic additive manufacturer, Q5D, award winning dairy producer, Tom Parker Creamery and bar and restaurant group, Deckhouse.
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