Surface Transforms raises expansion funding

Surface manufactures and develops high-technology carbon ceramic materials in Ellesmere Port, also in Cheshire, for components such as brake discs which are widely used in the motorsport and aerospace industries, and in non-friction applications such as rocket propulsion systems. Its ceramic materials are lightweight yet able to withstand very high temperatures (up to 3000degC).

Application will also be made for a tranche of over 3.5m additional ordinary shares to be admitted to trading on the AIM, in which dealings are expected to commence at the end of May, and a further 0.5m shares to commence on or before August 5.

The company says that is at an advanced stage of negotiations with a leading European supplier of automotive brakes with regard to the joint development of CFRC brake discs and pads. This agreement will provide for the design, testing and supply of CFRC brake discs and pads for use on a prestige model range of one of Europe's leading passenger car manufacturers.