The £2million fund is in line with the IMechE’s original statement of purpose set out by founder George Stephenson in 1847 to “give an impulse to invention likely to be useful to the world”. It is the first investment fund of this kind by the Institution.
The Fund’s first five investments are into blade compressor company Lontra, fuel cell catalyst developer Amalyst, sensor company Oxsensis, fusion energy company Tokamak Energy and space technology business Oxford Space Systems.
Stephen Tetlow MBE, chief executive of the IMechE, said: “These investments by the IMechE are not just about providing monetary investment, but about connecting these and other companies to the vast resources and network of the Institution and its membership.”
