The £50,000 funding represents 40% of the £125,000 total cost of the feasibility study with the remaining 60% coming from the company's own R&D budget.
Kieron Salter, managing director of KWM, said: "The idea of exploiting thermoplastics, which were pioneered in aerospace applications, for niche vehicle and low cost motorsport applications, was in the back of my mind for a long time. Being awarded this funding allowed us to focus on this new technology and put us at the forefront of innovation in this field"
Now, KWM is preparing for the next stage in its innovative research after winning a 60% grant from Innovate UK through the Motorsport Valley Launchpad. This new funding will go towards the total project costs of £200,000 for phase two research to develop a proof-of-concept prototype, which will initially be tested in KWM's own designed 09r trackday sports race car.
Cathy Martin, programme manager at NEP, said: "KWM is an excellent example of how SMEs continue to contribute to the UK's growing reputation for excellence in engineering and technology. It is also vital to the local and wider economy that businesses are able to innovate and grow."
The NEP funding has already enabled KWM to grow and provide employment as a result of the feasibility study. It is expected that as the ToPCaT project comes to fruition, additional highly skilled jobs will be created.