A British firm, MQP, has won Most Innovative Company at an international business awards celebrating excellence across Europe, the Middle East and Africa.
MQP, based in Solihull, UK, was presented with the award by TV presenter and broadcaster Clare Balding OBE at the 2022 BizX Awards at Farnborough International Exhibition and Conference Centre.
The firm beat off competition from four other finalists in the category, one of 17, thanks to its innovative products, but also “innovation and transformation throughout the company and having a vision to disrupt wherever you can”.
MQP’s expertise lies in aluminium grain refiner, an integral ingredient added to primary aluminium in the furnace to ensure the sheets and billets created to make everything from kitchen foil to car roof panels do not contain cracks and defects.
The company was recognised for the development of its new Optifine 5:1 125, which is 40% more efficient than the closest competitor on the market and means casthouses need 85% less product to consistently achieve high quality results.
Being able to eliminate ‘razors streaks’ from critical, high surface quality components in the early stages of car assembly, not the end, is a particular game-changer for producers of automative body sheets (ABS) for the electric vehicles market, a market valued at $163.01 billion in 2020 and projected to reach $823.75 billion by 2030.
Chairman John Courtenay said it was fantastic to be recognised for contributing to the advancement of an industry led by a world striving to reduce its carbon footprint.
“Global demand for aluminium will rise by up to 80% by 2050 and the industrial sector driving this growth is the one making high end products, from hoods and doors to full chassis, for electric vehicles. It’s about 30% lighter than steel, so results in less carbon emissions, helping protect the environment and the climate.
“However, before aluminium can be turned into finished products, mined bauxite must be reduced down to create primary aluminium, which then has to be treated to remove unwanted oxides to enable it to solidify without cracking. This is achieved through the addition of a star ingredient. Grain refiner.
“We developed Optifine on the back of the realisation that grain refiners on the market were notoriously inconsistent in performance, resulting in defects, poor quality material and waste. Building on the success of our original Optifine, we worked with Brunel Centre for Advanced Solidification Technology (BCAST) at Brunel University London to develop a grain refiner that would change the industry.
“Optifine and Optifine 5:1 125 are today used in 42 major casthouses worldwide in the production of over three million tonnes of alloys a year and to be recognised for our investment in the advancement of melt quality is a very proud moment.”
The annual BizX Awards are organised by ActionCOACH, the largest business coaching franchise in the world, and celebrate its coaches’ thousands of clients from across the UK, Europe and the Middle East.
MQP’s business coach, Anu Khanna, said: “MQP has worked exceptionally hard to grow the business and hit its targets. And they are committed to continuing to invest in R&D to help casthouses produce the best aluminium to make the highest quality end products, make manufacturing cost efficiencies and cut emissions.
“A huge congratulations to them for winning this award.”
For more information on MQP and Optifine, visit https://www.mqpltd.com/