Newcastle University Spinout Dragonfly Advanced Materials Lands £1m
The aerogel maker has raised £500k from Northstar Ventures and a £500k Innovate UK grant as its Northumberland factory nears completion.
- The £1m is split between Northstar Ventures and an Innovate UK grant.
- Dragonfly has found a cheaper, simpler way to make aerogels.
- A new manufacturing facility in Northumberland is nearly ready.
Newcastle University spinout Dragonfly Advanced Materials has secured £1m in funding, made up of £500k from Northstar Ventures and a £500k grant from Innovate UK.
Cheaper aerogels
Led by chief executive John Baines, the team has developed a way to make aerogels, super-lightweight materials that are excellent at keeping heat in, resisting fire and repelling water, more cheaply and easily.
The materials could be used for everything from insulating buildings to improving energy efficiency.
Scaling up
The funding will help Dragonfly increase production, grow its team and work with potential customers to test the technology. A new manufacturing facility in Northumberland is nearly ready.
