Dragonfly set to spread wings with £1 million lift

A technology firm is eyeing expansion after securing a £1 million boost.

Dragonfly Advanced Materials has unveiled plans to increase production capacity, create sales and development jobs and boost industrial partnerships.

Bosses say the moves will bolster the company’s work on aerogels that are used across industries such as maritime coatings and help provide thermal insulation and fire resistance across the built environment sector.

The growth blueprint comes after the business, based in Prudhoe, Northumberland, secured £500,000 investment from Northstar Ventures and a £500,000 grant from Innovate UK’s investor partnership programme.

Chief executive John Baines said the backing will help the Newcastle University spin-out deliver cost-effective alternatives to a marketplace balancing demand with budget constraints and production complexity.

He said: “This marks an important milestone in our progression towards a commercial advanced materials business.

“It provides the resources needed to accelerate commercial deployment and support the next phase of growth.

“With the majority of our scale-up infrastructure now in place, our focus is increasingly on customer adoption, commercialisation, licensing opportunities and creating long-term shareholder value.”

Newcastle and Sunderland-based Northstar Ventures made its investment through the North East Spinout Inspire Fund, with the move building on the operator’s six-figure support in 2024.

The £22.5 million pot is backed by the universities of Durham, Newcastle, Northumbria, Sunderland and Teesside, as well as the North East Mayoral Strategic Authority, and was founded to commercialise higher education research and innovation.

Tom O’Neill, Northstar Ventures’ investment manager, said: “The North East has a strong track record in translating university research into companies with global potential. 

“Dragonfly is a great example of the region’s ability to generate deep-tech businesses that can address major industrial challenges while creating high-value opportunities in the local economy.”

Rick McCordall, Newcastle University head of venture creation, added: “This is another great example of a research-based technology developed by our academics transitioning into a commercially successful business.”

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