The Institute, based in Teesside, is recognised as the UK’s centre for industrial materials research and has opened its doors to companies outside of the steel sector to make use of its top class research and development facilities.
The organisation, which was first founded 70 years ago, evolved to become the research and development arm, firstly of British Steel and more recently Tata Steel.
After returning to independent ownership in November, it is welcoming contracts from across the globe.
MPI Managing Director and CEO Chris McDonald said: “Being awarded this grant is fantastic news, it shows we are open for business and will open doors for SMEs to come and work with us.
“It took around four or five months to pull it all together, but we have had superb support from TVU and look forward to working closely with them in the future, not just to benefit the Tees Valley but SMEs across the UK.
“The grant will allow us to create 14 new positions, as well as supporting jobs in the high-value manufacturing supply chain.”
For more information, please visit: http://www.mpiuk.com