Business
DTI Grant Award
DTI Grant Award.
About this update from Surface Transforms Plc
[{"type":"text","content":"\n \n Embargoed: not to be released until 7.00am on\n\n 5 March 2007\n\n Surface Transforms plc \n\n (\"Surface Transforms\" or \"the Company\") \n\n Award to a £1.34 million Collaborative R&D Project \n by the UK Department of Trade and Industry (\"DTI\") \n\nSurface Transforms is pleased to announce the grant award for a three year, £\n1.34 million collaborative research and development project. The DTI led\nTechnology Programme has funded a grant of £600,000 to a consortium of\ncompanies led by Surface Transforms.\n\nThe purpose of the project is to develop new technology and products allowing\ninnovative recycling of carbon waste material for the production of carbon\nceramic brake systems for cars and longer wearing carbon brake friction\nproducts for use on aircraft.\n\nThe Company's partners in this collaborative project are:-\n\n * Milled Carbon Limited (regenerated carbon waste )\n \n * AP Racing Limited (brake systems for high performance cars)\n \n * Dunlop Aerospace Braking Systems Limited (aircraft brake systems)\n \n * Federal-Mogul Friction Products Limited (brake pads)\n \n * The Witchita Company Ltd (industrial brake & clutch products )\n \n * University of Loughborough ( specifications, analysis, testing)\n \nLoughborough University's contribution is funded by the Engineering and\nPhysical Sciences Research Council \"EPSRC\".\n\nAirbus UK, whilst not a collaborative partner, will support the project both\ntechnically and with the free supply of waste carbon products to serve as raw\nmaterials.\n\nSurface Transforms is the lead company and project co-ordinator and will be\nsupplying the proprietary technology relating to the manufacture of carbon\nceramic brake discs. The other industrial partners are all technology leaders\nin their respective fields of innovative friction material technology for use\nin the transport market and a number of them are already trading partners of\nSurface Transforms.\n\nThe project commenced on 1 March 2007 and the financial impact of the grant\naward, in terms of a reimbursement of overheads and in cash terms, is expected\nto be significant. The Directors estimate that in each of the three years of\nthe project, Surface Transforms will benefit by way of a contribution to\noverheads and improved cash flow of approximately £140,000 per annum.\n\nThe project is designed ...