Northstar Ventures is supporting Dragonfly Insulation's expansion by investing £500,000 to help the company grow and expand into new markets.
Advanced materials manufacturer Dragonfly Insulation announces it has raised £935,000 in an investment round led by North East Innovation, along with a £300,000 grant from angel investors and Innovate UK's Future Economy Investor Partnership program. Did.
Airgels have a number of proven high-performance properties, including ensuring temperature stability in extreme environments, being non-flammable, and being superhydrophobic, allowing for water-repellent structures.
However, the full potential of aerogels has not yet been realized, as traditional manufacturing processes are time-consuming, energy-intensive, inflexible, and restrict product shapes.
Dragonfly, which was spun out of Newcastle University in 2020, has developed a method to make silica airgel that reduces production costs and carbon emissions. It also enables the use of airgel in high-value sectors such as energy, process industries, construction, marine and aviation applications. Along with EVs and future fuels.
The airgel manufactured by the company has “excellent heat and fire resistance” and can be manufactured in various shapes such as panels, granules, and powder using Tombo's unique manufacturing process. Unlike other manufacturers, Dragonfly can also create bespoke formats for specific use cases.
The company will use the investment to expand its production capacity, grow its team and move from its current Northumberland base to larger facilities.
John Baines, Executive Chairman of Dragonfly, commented: “We are pleased to have secured this significant investment round led by Northstar Ventures, along with the additional investment and expertise brought by our angel investors.”
“As the UK’s only silica airgel manufacturer, this investment and the Innovate UK Grant are key to significantly expanding our production capacity. is a vote of confidence in our vision to become the leading provider of next-generation silica airgel materials in the industry.
“The need for more efficient and secure materials to support NetZero efforts has never been more acute.
“I believe that Dragonfly has an important role to play in helping us work together to address the challenges of climate change, comply with and overcome increasingly stringent environmental regulations, and meet the growing demand for environmentally friendly processes and products. We are confident.”
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