Ionix Advanced Technologies Limited, a company specialising in high performance piezoelectric materials and devices, is pleased to announce that it has closed a further £2m funding round with backing from ParkWalk, IP Group plc, the University of Leeds 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 is initially targeting applications where high temperature operation, up to 375 degrees C, provides a capability not offered by conventional piezoelectric devices. Initial target markets for these high temperature devices include thickness and crack monitoring, flow monitoring and position sensing in the oil and gas, refining, energy and nuclear power and industrial plant process sectors. Extreme environment applications represent a total market potential in excess of £500m per annum.
Ionix continues to expand its operations at the 3M Buckley Centre in Huddersfield, UK, in order to support its growing development and production activities, 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 condition and performance in extreme environments. The environments that monitoring devices are required to serve in are becoming ever more demanding. Operating temperatures are often increasing and operating times extending to increase efficiencies and lifetimes, whilst the world demands continuous 24/7 operation and zero system failures. 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 the talented team at Ionix and our partners and clients as we move into the next stage of commercial growth.”