Reaxa has been awarded a £146,191 Grant for Research and Development by the Northwest Regional Development Agency (NWDA), enabling the company to carry out the development on its nickel Encat catalyst.
Formed in 2005, the Blackley, Manchester, based company sells catalysts and scavenger products that are used by chemicals, pharmaceutical and life-science companies to enhance processes or recover metal residues from production processes.
Employing 13 people, the grant will enable an 18-month project to take place.
According to the NWDA, this will build on a research project completed in February 2009 and will allow Reaxa to carry out the development work required on its nickel Encat catalyst and scale-up production.
Once complete, Reaxa will be able to license production to third parties for full-scale commercial manufacture.
Dr Pete Jackson, chief executive officer of Reaxa, said: ‘We have already had significant interest from pharmaceutical companies on the back of our research results and this development project will allow us to get to the point of commercialisation, with an exciting new product that will make our customers’ drug-manufacturing processes easier, safer and cleaner.’
As part of the response to the current economic downturn, Grant for Research and Development is funded by the European Regional Development Fund (ERDF) with £1.1m, together with £1.2m from NWDA.