£2m Funding Round for High-temperature Piezoelectric Material Devices

Ionix Advanced Technologies Limited, a company specialising in high performance piezoelectric materials and devices, is pleased to announce that it has closed a £2m funding round with backing from IP Group plc, ParkWalk and private sources. The funds will accelerate the commercialisation of a range of devices based on its novel high-temperature piezoelectric materials, for applications in areas such as condition monitoring, and flow measurement in extreme environments.

Ionix’s devices have the potential to offer significant productivity gains, as well as cost and energy savings, by facilitating more efficient, safe and reliable process and inspection operations in extreme environments, where existing technology is unable to operate effectively.

Ionix is initially targeting applications where high temperature operation, up to 420 degrees C, provides a capability not offered by conventional piezoelectric devices. Initial target markets for these high temperature devices include: industrial plant process, energy and nuclear power, refining, aerospace, and oil and gas, and represents a total market potential in excess of £500m per annum.

Ionix has recently moved its operation to the 3M Buckley Centre in Huddersfield, UK, in order to support its growing operations, and provide a base for the next phase of growth, Dr David Astles commented: “Ionix exists because of the need for the industrial world to better monitor plant condition and performance in extreme environments. The company has developed a range of promising materials and associated devices which fit with this challenge, and offer exciting opportunities in a range of applications. Our technology looks ideally placed to play a part in the drive to increase continuous condition monitoring, and we are gaining good traction in this area. I look forward to working closely with our talented Ionix team and our partners and clients as we move into the next stage of commercial development. We are looking for the right partners to realise our full potential.”

About Ionix
A spin-out from the University of Leeds, Ionix has created a range of proprietary high performance piezoelectric materials that can operate in high temperature, high work environments, and that enable it to supply sensors, actuators and transducers which address applications and markets not accessible to existing piezoelectric systems, including flow, crack development and corrosion monitoring.

The materials and derived devices are the subject of a number of international patent applications.

Piezoelectric ceramics are materials which when an electric voltage is applied causes a small change in the material’s dimensions and vice versa. Piezo-electrics have many applications: as actuators and motors in fuel injectors and robotics, as transducers employed in both medical and naval SONAR ultrasonic platforms. They can also be used for active vibration dampening, electronic frequency filters, transformers and as acoustic/vibration sensors.

About IP Group
IP Group is a leading UK intellectual property (“IP”) commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

www.ipgroupplc.com

About Parkwalk
Parkwalk is a London-based independent investment management firm with a portfolio focused on companies spun out from the UK”s leading universities and other research- intensive institutions to develop and commercialise relevant new technology.

www.parkwalkadvisors.com

Contact:
Dr. David Astles,
Chief Executive Officer
Ionix Advanced Technologies Ltd. 3M Buckley Innovation Centre Firth Street
Huddersfield, HD1 3BD, U.K.
E: david.astles@ionix.at
T: +44 (0)1484 505859
W: www.ionixadvancedtechnologies.co.uk