IPT is an entity that since 1995 has been concerned to develop innovative new technology in the field of plastics
and production technologies. IPT activities have the following main areas of expertise: product, process, and material development. For the purpose of research and development, IPT works with the necessary devices and equipment, and related software. IPT works in cooperation with scientific institutions and industry partners. In relation to the range of IPT’s material qualification, IPT can test plastic materials, semi-finished products, and components; thermo-mechanical tests, technical processing developments, and numerical methods are applied.

IPT is a registered non-profit organization affiliated with the University of Applied Science Wismar. It is not
general funded, i. e. it does not receive any general institutional support. Besides public-funded projects in its idealistic purpose, which financially represent the essential part of IPT’s income, there is a stable business, which is maintained on special-purpose (according to IPT’s statute purpose) as well as in commercial business. This income contributes among other things towards the equity ratio of public-funded projects. IPT’s business volume has constantly developed positively since its founding. Since 2006 it has been within a range of 0.7 to 1.0 million Euros. Due to adequate financial reserves from preceding years, IPT is able to grant both, the equity ratio of R&D projects (depending on the support program up to 30 %) and the pre-financing project costs until the receiving of subsidies. Furthermore, the institute is, therefore, able to invest in new equipment, to comply with the high technical requirements introduced by R&D projects.

IPT networks in strong coordination with Hochschule Wismar and Fraunhofer Institut für Großstrukturen in der Produktionstechnik (IGP), extension Wismar. Director of the boards of this consortium is Prof. Dr.
Harald Hansmann. The overall turnover of these 3 R&D – units in total is around 2 Mill. EUR.has been