OREANDA-NEWS. July 06, 2015. Imperial Innovations Group plc (AIM: IVO, "Innovations", "the Group") has led a ?4.0 million funding round in Impression Technologies Ltd. ("Impression Technologies" or the "Company"), an aluminium forming technology business based on intellectual property developed at Imperial College London.

Innovations invested ?0.5 million in seed funding in Impression Technologies in February 2013 and has now committed a further ?2.5 million in this round alongside Mercia Technologies PLC, an existing investor.

Following this new investment, Innovations will hold a 59.9% stake in the issued share capital of the Company. The Group does not control Impression Technologies (as defined by IAS 27) and does not consolidate it.

Impression Technologies specialises in developing technology for forming complex, high-strength, lightweight components for the transportation industry. The Company's patented solution Heat treatment, Forming and in die Quenching (HFQ®) technology developed by Impression Technologies and Imperial College, allows a wide range of aluminium alloys, including ultra-high strength grades, to be formed in a fast pressing operation without compromising the strength or metallurgical properties of the material. The result is complex but lightweight components, which can be used in the manufacture of cars, trains and aeroplanes.

The funds will be used to acquire a press and establish a press facility in collaboration with Impression Technologies' first licensee, PAB Coventry ("PAB"), in order to continue development of the technology, and to keep up with customer demand. PAB is currently supplying parts, made with HFQ technology, to the motor industry.

Russ Cummings, Chief Executive of Imperial Innovations said:

"Impression Technologies has made excellent progress since its seed funding round in 2013 and is currently doing demonstration pressings for a number of high profile car manufacturers. The key challenge for the business has been to have access to a high speed press.

"We are therefore delighted to lead this new funding round, which will allow Impression Technologies to build a demonstrator facility that can be used to showcase its patented solution Heat treatment, Forming and in die Quenching technology and make initial production volumes for the motor industry."