Innovative biomaterial start-up Cellexcel appoints Tim Pryce as Executive Chair
Experienced materials industry executive joins founder team to commercialise unique green technology
(firmenpresse) - Norwich, UK, 13 December 2022. Biomaterial technology start-up Cellexcel today announced the appointment of Tim Pryce as the company’s first Executive Chair. Tim will be responsible for developing the structure, team, and skillsets to accelerate commercialisation of Cellexcel’s innovative greentech solution.
A spin-out from the University of East Anglia (UEA), Cellexcel is developing unique technology to enhance the water resistance of biomaterials. Because they naturally absorb moisture, biomaterials made from plants such as flax and hemp normally decay, dramatically reducing their effectiveness, and limiting the applications they can be used for.
Thanks to Cellexcel’s advanced technology, biomaterials can now be integrated into external applications, such as composite panels used in the automotive or aerospace industry. This ensures lower weight products with around a 90% reduction in manufacturing CO2, by replacing emission-heavy materials such as polycarbonates, metal, or fibreglass composites – all while retaining their form, fit and function over time. This technology is expected to enable a wide range of industries to meet their embedded sustainability goals, benefiting us all.
Since beginning his career at Rolls-Royce Plc, Tim has worked for over 35 years with companies across the materials and engineering industries in the UK and US. Senior leadership roles include CEO of Applied Composites Group, President of Chase-Walton Elastomers Inc, Non-Executive Chair of John Roberts Paper and Packaging, and Executive Chair of Calder Precision.
“Industry faces pressing sustainability challenges and Cellexcel has developed a breakthrough solution that enables manufacturers to increase their use of bio-composites, match performance requirements, and reduce carbon emissions,” said Tim Pryce, Executive Chair, Cellexcel. “My role will be to accelerate Cellexcel’s market adoption, building a strong business and team around our innovation and working with customers to deliver on the promise of our technology. We are already in advanced discussions with potential industry partners and hope to announce our first licensing agreement and revenues in 2023.”
Since the initial development of its technology within UEA, Cellexcel has attracted translational funding and seed investment from Ceres Agri-Tech, a knowledge exchange partnership led by Cambridge Enterprise and financed by Research England. Cellexcel has also received grant funding from Innovate UK, Norwich Research Park, and other sources. To fund its growth and further expand its technology portfolio it will be seeking strategic investment in 2023.
“To meet our current sustainability challenges it is vital to successfully commercialise the exciting research work happening across our universities,” said Louise Sutherland, Director, Ceres Agri-Tech and Cellexcel board member. “Tim has the perfect combination of experience, passion for engineering, and team building skills, to accelerate Cellexcel’s technology and enable it to deliver on its enormous potential. I look forward to supporting him and Cellexcel’s growing team on the next stage of the company’s exciting journey.”
Since joining Cellexcel, Tim has focused on building the team, particularly expanding its depth and commercial breadth, as well as putting in place a management structure and auditable processes to position the company to target the growing opportunities in the biomaterials market.
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Cellexcel’s technology aims to increase the adoption of biomaterials, reducing carbon emissions and increasing sustainability. To achieve this goal, it has developed a unique solution to chemically modify biomaterial properties, with the first application enabling greater water resistance. This enables bio-composites to be used in external applications, such as the exterior panels of cars, trucks, vans, or aircraft, dramatically reducing their carbon footprint without impacting strength or other properties.
A spin-out from the University of East Anglia (UEA), Cellexcel has received initial investment and commercialisation support from Ceres Agri-Tech, the knowledge exchange partnership led by Cambridge Enterprise and financed by Research England, as well as grants from Innovate UK and the Norwich Research Park. Visit our website or LinkedIn page to learn more.
Datum: 13.12.2022 - 08:47 Uhr
Sprache: Deutsch
News-ID 1573925
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