Ultima Forma is demonstrating how sustained innovation and growth support can help a research-led manufacturer build the capability, credibility and commercial momentum needed to serve high-value UK supply chains.
Since Oxford Innovation Advice first began supporting the business in 2022, the Queen Mary University of London spin-out has achieved fourfold turnover growth, doubled its employee count, secured 12 grant awards worth approximately £2.53m, and progressed onto the Innovate UK Scaleup Programme.
At a glance
| Area | Detail |
| Company | Ultima Forma |
| Founded | 2018 |
| Origin | Spin-out from Queen Mary University of London |
| Sector | Advanced manufacturing |
| Technology | Electroforming to manufacture complex 3D parts and components |
| Priority markets | Aerospace, defence and renewable energy |
| Support | Innovation and growth advice from Oxford Innovation Advice; Innovate UK, RTO and Catapult ecosystem support; connection to the Innovate UK Scaleup Programme |
| Long-term impact | Fourfold turnover growth; doubled employee count; around 12 people currently employed; 12 grant awards totalling approximately £2.53m; AS9100 achieved; investor engagement progressing |
The challenge: turning innovation into commercial scale
Founded in 2018, Ultima Forma manufactures 3D parts and components using electroforming, a process that enables complex, high-performance applications in advanced manufacturing.
As a university spin-out with patented technology and a strong innovation base, the company had already developed the foundations for growth. The next challenge was to convert technical progress into scale-up readiness, customer confidence and commercial acceleration.
For an SME operating in aerospace, defence and renewable energy, growth depends on more than an innovative product. The business needed to continue maturing its manufacturing processes, strengthen product evidence, build partnerships with demanding customers and prove that it could deliver reliably in high-value supply chains.
The support: identifying the right opportunity at the right time
Oxford Innovation Advice began working with Ultima Forma in 2022, providing innovation and growth advice through its specialist advisers, most recently Nicola Wiley.
The support has helped the company navigate a complex innovation ecosystem, including Innovate UK, research and technology organisations, Catapults and grant-funded collaboration opportunities.
Although Ultima Forma was already experienced in securing innovation support, the value of the relationship came from having an adviser with a broad view of what was available, what was relevant and when the business should engage.
A key recent example was the company’s acceptance onto the Innovate UK Scaleup Programme, which is now supporting investment readiness, investor engagement and the development of a clearer growth strategy.
“Nicola’s value is that she has a broad view of what support is available and when it is relevant. The Scaleup Programme is a good example of support we may not have pursued without that wider perspective.” – Steve Newbury, Managing Director, Ultima Forma
The impact: capability, credibility and economic growth
Since the original support, Ultima Forma has sharpened its commercial focus around aerospace, defence and renewable energy. This clearer market positioning has been matched by measurable growth and stronger operational capability.
The business has achieved fourfold turnover growth, doubled its employee count and now employs around 12 people.
The company has also secured 12 grant awards totalling approximately £2.53m. These awards have helped mature manufacturing and product technologies, develop partnerships, improve quality systems and create the conditions required to progress onto the Innovate UK Scaleup Programme.
Importantly, the jobs created are not just a headcount measure. They represent new capability, delivery capacity and the depth of expertise needed to meet customer expectations in technically demanding markets.
“The new jobs are about more than headcount. They help us build trust with customers, demonstrate that we have the right capability, and show that we can deliver for demanding aerospace and defence applications.” – Steve Newbury, Managing Director, Ultima Forma
Strengthening high-value UK supply chains
Ultima Forma’s progress shows why sustained support for manufacturing SMEs matters to wider economic development. High-value supply chains need innovative smaller businesses that can meet the technical, quality and delivery expectations of OEMs, primes and major industrial partners.
The company has achieved AS9100, an aerospace and defence quality standard, strengthening its credibility with customers and partners.
New opportunities include collaborations and projects with organisations such as Airbus Fuel Systems, Dowty/GE, Tokamak Energy, UKAEA, GKN Aerospace and AMRC Catapult.
Its developing product-market opportunities include heat exchangers for defence applications, optical sensors for hydrogen and liquid hydrogen fuel systems, superconducting magnet tapes, HIP canisters, electroformed leading edges for propellers, and AI-enabled tools for materials and manufacturing innovation.
“Local manufacturing capability makes collaborative development faster and more efficient. Being close to customers and partners helps build stronger supply chains and can lead to more projects and job creation in the UK.” – Steve Newbury, Managing Director, Ultima Forma
The role of Oxford Innovation Advice
For Oxford Innovation Advice, the story demonstrates the value of long-term, relationship-led business support. Rather than a single intervention, the support has helped Ultima Forma move through a series of growth stages: developing innovation projects, engaging with the Innovate UK ecosystem, building partnerships, strengthening operational credibility and preparing for scale-up investment.
This connection role is especially important for advanced manufacturing SMEs. The right adviser can help a business understand which opportunities are relevant, avoid wasted effort and access support at the point when it can have the greatest commercial impact.
“Oxford Innovation is much more outward-facing and engaged with SMEs. That connection role is important because it helps link business needs with the right support, opportunities and potentially customers.” – Steve Newbury, Managing Director, Ultima Forma
Looking ahead
Ultima Forma is now focused on maturing its technologies, manufacturing processes, customer relationships and growth strategy.
Through the Innovate UK Scaleup Programme, the company expects to clarify how its strategy links to investment and how it can deliver a sustainable growth plan.
With an investment deck in place and investor engagement progressing, the next stage is about identifying the right investment partners and accelerating commercial opportunities in sectors where UK capability, resilience and innovation are strategically important.
The company’s journey illustrates how sustained business support can translate innovation into long-term economic impact: stronger technology, more skilled jobs, higher turnover, better quality systems, deeper customer relationships and greater readiness to scale.
Impact summary
- Fourfold turnover growth since earlier support.
- Employee count doubled, with around 12 people currently employed.
- 12 grant awards secured, totalling approximately £2.53m.
- AS9100 achieved, strengthening credibility in aerospace and defence markets.
- Acceptance onto the Innovate UK Scaleup Programme to support investment readiness and growth strategy.
- Collaborations and opportunities developing with major industrial and innovation partners.
- A stronger platform for future investment, commercial acceleration and skilled job creation.
