Next generation X-ray tech secures investment
Next generation X-ray technology firm HALO has secured investment from Midven and Midlands Engine Investment Fund.
Established in 2012 by Nottingham Trent University and Cranfield University, the research carried out by Professor Paul Evans and Professor Keith Rogers enables materials to be scanned and identified at speed across a variety of markets.
New systems based on this technology are being developed for aviation security, with the aim of providing accurate identification of restricted materials within luggage.
HALO X-ray Technologies will use the investment to create 20 engineering and software development jobs over the next three years, as it focuses on the commercial exploitation of its technology and develops new systems with reduced time to market.
“We are delighted to have received the investment from Midven,” said Simon Godber, CEO of HALO X-ray Technologies.
“It will allow us to move the business onto a more commercial footing, recruit the necessary specialised staff and reduce time to market.
“We want to surpass our prior expectations to enhance security, improve passenger experience and increase throughput, all whilst reducing overall costs for airports.”
Roger Wood, director at Midven, added: “HALO has developed a cost-effective and potentially disruptive additive technology that could bring significant passenger safety and commercial benefits to the airport security market.
“The MEIF investment will enable the company to complete commercialisation of its initial products and focus on business development activities and customer engagement.”