NEWPORT-based Surface Technology Systems and its Japanese parent Sumitomo Precision Products are creating a professorial chair at the London Centre for Nanotechnology at University College, London.

Nanotechnology is the study of engineering at a molecular level and STS is a world leader, although it has yet to turn a profit on it.

The new professor will work towards strengthening the relationship between Surface Techno-logy and the academic sector and will pursue various research projects.

The role will be particularly focused on producing new nanotechnology devices, materials and processes.

Surface Technology said the UK is particularly strong in the nano arena and claimed the London Centre was a highly visible player in both nano and bio-nano initiatives.

Andrew Chambers, the company's technology director, said: "Nanotech-nology is widely acknowledged by the technical, commercial and investment communities as a key enabling technology of the future.

"Our investment in the professorial chair at LCN will drive state-of-the-art research and place the UK among world leaders in this field."

In the last two years, nanotechnology has attracted considerable investment from private and public sectors.

Applications already developed include the production of high performance materials for aircraft and automobiles and synthetic bone material for use in medical procedures where natural bone has been damaged or removed.

The London centre brings together two of the world's leading institutions in nanotechnology: University College and Imperial College.

It offers laboratory and office space which can access the combined skills of eight departments, including medicine, physics, electrical and electronic engineering, materials and earth science.