A Bristol-based firm has secured 拢4.8m worth of funding from the 海角视频 Space Agency.
iCOMAT, a spin-out company from the University of Bristol, backed by the NatWest Accelerator programme, provides patented light weighting solutions through technology across the aerospace, automotive and the space industry.
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The funding is part of a wider 拢50m investment round from the 海角视频 Space Agency to back the development of space research, manufacturing and testing facilities across the 海角视频, create new jobs and enhance the 海角视频's offering of space capabilities and services to international investors. iCOMAT is one of 12 successful applications throughout the 海角视频.
In the South West iCOMAT will use its funding to form a new local cluster of research and development, and production facilities, creating exciting new job opportunities, attracting talent to the region and increasing accessibility of materials to businesses in the market. When operational it is expected to create an additional 60 roles in the region.
Rony Seamons, head of people operations, iCOMAT said: 鈥淭hrough this investment, we enter an exciting new era for the business which brings an opportunity to grow our existing team. When fully operational, we expect to bring an additional 60 high-value roles to the company to help drive production, which will include multiple engineering and some highly specific composite roles. We have also made plans to engage with local learning providers to we can continue to provide exciting career paths for those leaving education in the region.鈥
鈥淏eing a part of NatWest鈥檚 Entrepreneur Accelerator Hub has been a key part of the growth of the business and for myself on a personal level as a former Accelerator Manager. It鈥檚 provided us with mentoring support as well as access to a like-minded community of entrepreneurs who are always happy to offer advice and share learnings from their own experiences.
鈥淲e鈥檙e looking forward to continuing our relationship with NatWest as we work together to expand the business and create high quality employment and investment opportunities in the region.鈥
