Armadillo has invented an electroplating bath additive that forms regular and well-dispersed deposits within the metal coating matrix. The additive comprises nano-containers carrying functional molecules that release under corrosive and erosive conditions to protect an entire metallic coating, right down to the substrate. Armadillo products are manufactured using non-toxic, environmentally friendly and cost-effective materials.


Simon joined the Group in 2017 and is a member of the NPIF – Mercia Equity Team. He is focused on identifying and delivering investments from NPIF Equity and is the primary contact in the Teesside and Humberside regions. He supports a growing number of investments in these areas.

Previous experience

Simon is from the materials and petrochemical industry, having held positions in Johnson Matthey and Davy Process Technology. This has included team management and leadership roles in research and development, technology licensing and technology consulting, which led to a number of patented commercialised processes for catalyst recovery, natural product conversion and bulk petrochemical manufacture; more recently operations, manufacturing excellence, and strategy development. Simon has a science and technology background with a degree and PhD in Chemistry from the University of Durham.


Ashwin joined the Group in 2008, and has over  ten years’ venture capital experience. He is responsible for a number of technology investments including Faradion and SureCore; he is a member of the NPIF – Mercia Equity Team and part of the Electronics, Materials, Manufacturing & Engineering sector Investment Team. He has been involved in all aspects of creating venture-backed businesses, including sourcing new opportunities, working with founders and management teams to build valuable propositions.

Previous experience

Ashwin worked at IP Group plc, commercialising intellectual property from UK universities, and at ITI Scotland, analysing technology markets. He started his career as a technology entrepreneur in Semiconductor industry. Ashwin holds a Bachelor of Engineering in Electronics and Communication from Bangalore University, an MSc in System Level Integration from Edinburgh University, and was a Chevening Technology Enterprise Fellow in 2004/05. During his Chevening fellowship he was part of a business training programme, jointly run by London Business School, Cambridge University and Imperial College, focusing on taking early-stage technologies to market.

Design & manufacture of specialist passenger carrying vehicles

Develop and manufacture a washing process that consumes less water and energy, using a patented reusable and recyclable polymer bead cleaning system.

Semiconductors- replacing mechanical crystals in electronic devices with silicon solutions.

sureCore is an ultra-low power memory design company based in Sheffield.

Ventive has developed a new range of award winning passive heat recovery ventilation products to improve the energy efficiency of homes and commercial buildings.

Warwick Acoustics designs audio systems that deliver premium listening experiences to the audiophile headphone and automotive markets.

Manufacture, installation and renovation of electricity transformers and rotary equipment