Pentaxia, manufacturers of advanced composites, has received a £168,000 grant from the Derby Enterprise Growth Fund.
The firm plans to invest in advanced machinery and expand its production space.
The expansion will create 12 jobs and enable the company to produce components for the aerospace and automotive industry.
DEGF is supported by the Government’s Regional Growth Fund and operated by Derby City Council.
The programme aims to support growth and job creation in Derby and the surrounding area via loans and grants.
Managing director Stephen Ollier said: “The DEGF grant approval has coincided with our AS9100 approval.
“This enables us to manufacture components for the aerospace industry which presents substantial opportunities for us.
“The demand for advanced composites in both the aerospace and automotive manufacturing industries are particularly buoyant.
“There is increased recognition of the applications for these materials to make components on aircraft and in cars which are lighter, stronger and more efficient than traditional metals.
“Derby City Council has taken a positive and imaginative approach to supporting businesses such as ourselves through the Derby Enterprise Growth Fund.
“They recognise that this area is a centre of excellence for advanced composites and that this industry is creating skilled job opportunities for local people.”
