The Catapult brings together a group of research and technology facilities, bridging the gap between business, academia and other research organisations to support UK manufacturing in the commercialisation of new technologies.

Dick Elsy, previously CEO at technology and transmission manufacturer Torotrak, will join the Catapult from the start of October.

His appointment was praised by Business Secretary Vince Cable, who asserted that Dick Elsy had “an excellent track record and the sort of experience and skills in business, design and engineering that Catapult centres need.”

Dick Elsy is the holder of a Silver Medal from the Royal Academy of Engineering for his outstanding contribution to British engineering. He is also a Chartered Engineer, a Fellow of the Institution of Mechanical Engineers and a former director and trustee of Engineering UK.

Iain Gray, chief executive of the Technology Strategy Board, said the Board was ‘thrilled’ at the appointment and spoke with anticipation about the Catapult’s potential. He said: “The Catapult will help UK-based manufacturing businesses take advantage of lucrative global markets through the development of high-value products, processes and services to the long-term benefit of the UK economy.”

Mr Elsy said that the Catapult initiative is poised to play a key role in the rebalancing the economy. “There is tremendous innovation in United Kingdom, and the High Value Manufacturing Catapult, and the other Catapults, have been set up to unlock the commercial value of such innovation and to maximise this value capture in the UK,” he said.