Over £27 million invested in small businesses following successful clean technology support programme
- £27 million in private investment raised through 11 SMEs since Technology Developer Accelerator Programme (TDAP) start.
- £226 million private finance raised in total over 7 years, across all 61 TDAP companies
The Advanced Propulsion Centre (APC) has celebrated as 8 high potential start-ups and SMEs graduate from the latest cohort of its Technology Developer Accelerator Programme (TDAP). Businesses from the fifth funding cohort of cutting-edge technology developers have raised an extra £27 million of investment into 11 exciting small businesses – in just 17 months.
From solid state and metallic lithium battery technology to recycled rare-earth magnets, from silicon carbide power electronics to next-generation radar sensors. 8 clean-mobility focussed start-ups and SMEs, chosen from more than 100 applicants, each received grant funding of up to £135,000 and had access to a 17-month bespoke package of support – helping them to bring their innovation to life and accelerate their route to market and grow.
Each programme close is a significant milestone for APC, and the TDAP programme, explains Josh Denne, Head of SME Programmes at APC:
“Our mission is to support ambitious UK-based micro, small and medium-sized companies with an aim to help reduce harmful greenhouse emissions from road transport. Companies that have completed TDAP have benefitted from developing prototypes and product demonstrators, finding new routes to market, developing new partnerships, and strengthening their strategies and business plans. Many have gone on to take significant external investment and accelerate their routes to commercialisation. This particular wave of companies has raised over £27 million in private finance in just 17 months. From its inception the TDAP programme has helped businesses raise over £226 million in private finance. This is money directly invested in clean transport technology development through start-ups, spinouts, and SMEs. When a programme comes to fruition, we see how these great ideas are accelerating on their journey to becoming next-gen products, ultimately leading to more to CO2 savings, more jobs created and contributing to the push towards net-zero as the UK cements itself as a leader in zero carbon propulsion technology.”
Companies involved in the fifth TDAP cohort were:
Composites Evolution – Derbyshire
Using plant-based composite materials to replace conventional materials for next-generation lightweight vehicle structures that will lead to increased vehicle range.
Enable Manufacturing – Leicester
Using 3D printing to create casts for manufacture meaning more complex metal parts can be developed more quickly.
Ilika Technologies – Romsey
Developing solid-state battery technology that will lead to benefits such as greater range, lighter weight, and faster charging.
LiNa Energy – Lancaster
The LiNa sodium-nickel-chloride battery platform is Lithium and Cobalt free which will reduce costs and ease of recycling.
Maxpower Semiconductor UK – City of London, London
Using Silicone Carbide to improve efficiency and thermal properties reducing cooling system requirements which will reduce costs but improve performance.
Oxford RF Solutions – Oxford
A multidirectional Radar sensor to enable all-weather situational awareness in autonomous vehicles
Seren Technologies (now Ionic Technologies) – Redcar, Yorks
Using Ionic liquids to enable the sustainable separation of rare earth elements used in net-zero technology including electric vehicles. Increasing efficiency and reducing costs
Sigma Lithium – Oxfordshire
3D metallic Lithium Anode for high performance electric vehicle batteries with a faster charge and greater driving range.
Over the last seven years, TDAP has:
- Supported 61 companies with over £9.8 million in funding support
- Helped businesses to average a 50% increase in headcount
- Supported SMEs to accelerate their route to market by an average of 19 months
- Seen over £226 million of private investment raised by TDAP participants
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