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17th May 2019

Nottingham firm lands MEIF investment for next-gen X-ray technology

  • Investment will see 20 engineering and software development jobs created over the next three years at Nottingham-based HALO X-ray Technologies
  • HALO technology will help improve airport safety and reduce the number of false alarms

HALO X-ray Technologies (HALO), a company which owns patented next generation X-ray technology, has secured investment from venture capital firm Midven and the Midlands Engine Investment Fund (MEIF).

HALO was established in 2012 by Nottingham Trent University and Cranfield University to commercialise patented X-ray diffraction technology, based on groundbreaking research carried out by Professor Paul Evans and Professor Keith Rogers.

This finance injection will allow HALO 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.

The firm’s platform technology enables materials to be scanned and identified at commercially viable inspection speeds across a variety of markets. New systems based on this technology are already being developed for aviation security, providing accurate identification of restricted materials within luggage.

Simon Godber, CEO of HALO X-ray Technologies, said: “We are delighted to have received the investment from Midven. 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, said: “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.”

Rob Evans, Technology Transfer Manager at Cranfield University, said: “Halo is a great example of how technology transfer from university research can work, with practical and applied solutions. Following the investment from Midven, we are confident that Halo will build on the work of Professor Keith Rogers and Professor Paul Evans and progress to full commercialisation with installation of systems around the world.”

Professor Nigel Wright, Deputy Vice-Chancellor - Research and Innovation - at Nottingham Trent University, said: “In securing this significant investment, Halo has taken an important step towards bringing this innovative technology to the market and to making travel safer for all of us. It’s an excellent example of how collaborative research between universities can lead to the development of technologies which significantly benefit society.”

The MEIF project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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#MEIF Small Business Loans can be used to support new product development, expansion projects and purchasing new equipment.

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Follow @midsenginv

#MEIF Small Business Loans can be used to support new product development, expansion projects and purchasing new equipment.

Find out more about the finance type here: https://t.co/jYDjBK5oLs https://t.co/cIlO7HsLrw
MidsEngInv photo

Birmingham-based tele-optometry company, @EyotoOfficial, is set to develop new technology to enable remote eye tests following a £2.5 million funding round, supported by #MEIF and @Midven.

Find out more in @businesslive: https://t.co/djUD8wWvH5 https://t.co/Nl0hhVQIej
MidsEngInv photo

Leicester tech firm @Navitas_Group is set to digitise the food safety industry following a £745k equity investment from #MEIF and @ForesightGroup.

The boost will support the full market roll-out of its food safety technology.

Read more on our website: https://t.co/UFTXQcQpSW https://t.co/CO3PwJJCgW
MidsEngInv photo

Don't forget to subscribe to our newsletter for all the the latest investment news, insights and exclusive interviews.

Sign up on our website: https://t.co/bhaSJ3nvsT https://t.co/kxSnLTPulF
MidsEngInv photo

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

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