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Commercial Property

Lucideon signs lease on former Renishaw building after multi-million pound funding bid

The company is taking on additional space as part of a wider Midlands Industrial Ceramics Groups (MICG) project

Lucideon CEO Tony Kinsella is pictured here outisde the company's headquarters in Penkhull, Stoke-on-Trent.

A global materials development and testing company has taken on a new factory as part of a collaborative effort to put the Midlands on the map as a world leader in advanced ceramics.

Lucideon is one of a number of businesses which makes up the Midlands Industrial Ceramics Group (MICG) – which includes big-name firms such as Rolls-Royce and JCB along with the universities of Birmingham, Loughborough and Leicester.

In July, the group secured £18.7 million funding through the º£½ÇÊÓÆµ Research and Innovation's Strength in Places Fund (SIPF) – with £14 million of that going to Lucideon.

Now the Stoke-on-Trent company has used some of the cash to invest in an additional facility which will help it to play a key part in creating a "world-leading" industrial research and development programme over the next four years.

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The 92,000 sq ft facility on Stone Business Park – which formerly belonged to Renishaw – is expected to be up and running by the end of November.

Lucideon chief executive Tony Kinsella said: "It was great news to win the bid for funding, but unfortunately we just haven't got enough space in Penkhull to start the SIPF project.

"We have now rented a facility in Stone which used to belong to Renishaw. The reason we wanted it is because it's research labs and already set up for research – and sadly that's in short supply in Stoke-on-Trent."