Oct 1, 2018 | By Thomas
UK-based Liberty Powder Metals, owned by Liberty House, has received £4.6m investment to develop and manufacture speciality alloy metal powders for 3D printed car parts.
The overall cost of the scheme is £9.83 million, with almost £4 million coming from Liberty and the CASCADE project, a Research and Development initiative funded by the UK Government and led by Liberty.
The project will be established at the Materials Processing Institute in South Bank, enabling Liberty to access the scientific expertise available at the not-for-profit institute to develop new materials, processes and technologies.
Liberty expects the market for speciality alloy metal powders to grow rapidly and aims to secure a share in the international market for it, using Tees Valley-based facilities.
Mayor Houchen chairs the Cabinet and following the meeting, said: "Staying ahead of the curve on new technologies like speciality metal powders, and the 3D printed products they’re used in, could create a whole new industrial cluster and many jobs for local workers."
“The fact that a company as big as Liberty has chosen to bring this project to the Tees Valley shows that we are a real magnet for research and development and foreign direct investment.
“It just shows that if we keep backing our job creators, innovators, entrepreneurs and risk takers, private investment will flood into our area to develop future-proof industries like this one.”
Councillor Sue Jeffrey, Leader of Redcar and Cleveland Council and Cabinet Member of the Tees Valley Combined Authority said: “This is investment in the metals industry of the future, proving that the sector continues to have great prospects here in the Tees Valley. It brings with it not only the promise of high skill jobs now, but of many more to come benefiting both our ready-made highly skilled workforce and our young people currently in education and training and hoping to get jobs locally."
Posted in 3D Printing Application
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