High Temperature Material Systems (HTMS, Bristol, U.K.) has raised 1.3 million pounds in fresh funding to accelerate the commercialization of its advanced Ceramic Matrix Composites (CMCs), materials known for their exceptional heat resistance and strength-to-weight ratio.
Founded by engineers Dr. Danilo Di Salvo and Dr. Richard Grainger, the company aims to make CMCs, traditionally reserved for aerospace and defense, accessible for mass-market applications such as EV battery casings and other automotive components. The investment, led jointly by the British Business Bank's Midlands Engine Investment Fund II and South West Investment Fund, will support the establishment of new offices in Leamington Spa and a production facility in the South West, paving the way for up to 40 new jobs over the next four years.
HTMS, which has a team of eight, has an office in Stratford-upon-Avon as well as a laboratory in Bristol. The investment will enable the company to open a new office in Leamington Spa and a production facility in the South West, and continue its research and development.
The majority of the 1.3m pound investment has come from the British Business Bank's Midlands Engine Investment Fund II and the South West Investment Fund, through their respective fund managers, Maven Capital Partners and Mercia Ventures. It is the first time the two regional funds have collaborated on an investment, with each providing 350,000 pounds. Other investors include SFC Capital, DeepTech Labs, the US venture fund Plug and Play and angel investors.
HTMS specialises in Ceramic Matrix Composites (CMCs), which combine the heat-resistant properties of ceramics with fibres for added strength and flexibility. CMCs, which 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.
Dr Di Salvo and Dr Grainger, who between them have over 20 years' experience in the composites industry, have found a way to significantly reduce the energy, time and cost involved in producing CMCs. After developing the process at home, they set up HTMS in 2021 with the aim of bringing CMCs to a wider audience and creating the UK's first domestic supply chain.
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.
Dr Danilo Di Salvo, CEO and Co-founder of HTMS, said: "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."
Rafi Khan, Investment Manager at Maven, said: "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."
Shubham Jaipuria, Investor at Mercia Ventures, added: "HTMS's advanced materials open up new possibilities across a range of industries, from safer electric vehicles and more fuel-efficient aircraft to improved energy storage."
Beth Bannister, Senior Investment Manager at British Business Bank, said: "This investment is the first time the Midlands Engine Investment Fund II and the South West Investment Fund have worked together."
Source: www.htms.tech
