FRONTIER IP has agreed to take a 30% stake in a new spin-out company from the University of Central Lancashire (UCLan).
The Edinburgh firm, which specialises in commercialising intellectual property, also expects to receive licensing income from the business once it is up and running.
The as-yet-unnamed company is being formed out of the university's Silicate Research Unit.
It has developed a process to transform waste ceramics and glass into a material which has applications in the construction industry.
The material, which is recyclable, can be used for interior and exterior wall cladding, flooring, bricks and work surfaces.
The product can have its design and finish customised, which should help it appeal to architects.
Neil Crabb, chairman of Frontier IP, said: "This collaboration with the University of Central Lancashire represents an exciting new opportunity for Frontier IP.
"We have in-depth experience in commercialising university IP and we look forward to working with UCLan to maximise the potential of the Silicate Research Unit's cutting-edge product."
David Binns, from the Silicate Research Unit, said: "We are delighted our innovative research is being taken out into the wider world. Our new products have the potential to make a real difference in the sustainable use of previously problematic waste materials."
Professor Margaret Bruce, from UCLan, said: "By working together we will be able to bring innovative products to market."
Frontier IP has existing partnerships with Robert Gordon, Dundee and Plymouth universities.
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