£3m co-investment into Impression Technologies

Published On : 04/19/2018

National investment group Mercia Technologies PLC is pleased to announce that it has completed a further £1.5million follow-on investment into Impression Technologies Ltd (ITL), a leading developer of advanced aluminiumlightweighting  technology. The investment is part of a £3.0million funding round with co-investor IP Group plc.

This latest investment will enable ITL to build its commercial and operations team to support the continued commercial adoption of its Hot Form Quench (HFQ®) technology by a growing pipeline of global automotive original equipment manufacturers (OEMs) and Tier 1 suppliers. The company has made significant progress in the last 12 months in developing its HFQ® partnership and licensing model.

Impression Technologies’ Hot Form Quench™ (HFQ®) press in action

ITL, which is based in Coventry, has developed a unique patented technology called HFQ® for the mass production of complex, deep drawn, high strength aluminium structures for use in the automotive, aerospace, rail and industrial sectors.

Following the opening of the world’s first HFQ® production facility in October 2016, the company is already supplying around 25,000 components every year to high-profile manufacturers, including Aston Martin and Lotus Cars. ITL is also in discussions with a number of other global automotive brands and recently secured significant grant funding of £9.6million as part of a leading consortium including Gestamp Washington UK Limited (a wholly-owned subsidiary of Gestamp Automoción, one of the world’s largest suppliers of automotive components).

Outside of Impression Technologies’ facility, located on the former site of the Jaguar factory in Lyons Park, Coventry

Jonathan Watkins, ITL’s Chief Executive said:, said:

“We are grateful for the continued support of our principal investors. This investment will enable the company to establish HFQ® Technology as a global standard and the aluminiumlightweighting technology of choice for high-volume automotive applications worldwide.”

Dr Mark Payton, CEO of Mercia Technologies PLC, said:

“ITL typifies Mercia’s proactive, patient approach of supporting regional businesses initially via its managed funds, before selectively scaling emerging stars via Mercia’s balance sheet capital. It is our privilege to continue to support Jonathan and his team as they seek to disrupt this attractive and growing global market.”

Wanda Rich

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.