The technology came from several years of research conducted by a team of three scientists at the University of Leeds; Professor Ian Ward, Dr Peter Hine and Mr Keith Norris. Recognising its commercial potential, BTG acquired the technology, funded the initial development and filed patents worldwide, which ensured fast-track development for Vantage Polymers, an incubation company, set up to develop the technology further.
Professor Ward said: BTG’s expertise in constructing water-tight patents allowed us not only to derive value from the technology, but also to harness the innovation of the manufacturing process.
BP’s agreement with BTG has an Accelerated Earnings Clause to incentivise BP’s commitment to acquire rapid market-share with this technology. BP is making significant investment and expects it’s first production line to be fully commissioned in 2001 at its Gronau, Germany site and potential customers are already being sampled.
The Hot Compaction composite has many applications besides internal and exterior car components. They include packaging; consumer goods; building materials and protective gear for sports. The additional feature of radar translucency, has a potential application for the aerospace and defence industry.
The recyclability characteristics of Hot Compaction fit well into BP’s commitment to be an environmental leader. The product provides a superior alternative to many conventional materials, as it is made out of one material, polypropylene, and is fully thermoplastic. It is also much lighter than comparable glass and carbon-fibre reinforced plastics and uniquely combines high rigidity and toughness even at sub-zero temperatures.
Anthony Lando, Executive VP and Divisional Director of BTG plc, said: We are pleased that BP saw the potential of this technology and are taking it forward. This deal demonstrates the flexibility of our business model and our ability to negotiate to the benefit of the University.
