Pyreos, the Edinburgh-based passive infra-red sensor developer, has unveiled plans to triple its turnover from the United States within the next two years as it prepares to join Scottish Enterprise’s Scottish Alliance attending the Photonics West trade show in San Francisco next week (16-18 February).
Pyreos develops and manufactures sensors that are built into a wide range of devices, from motion sensors for buildings to food safety devices in the food chain and scientific instruments in laboratories. The business already has a market in the US, with 17% of its turnover generated from US customers that use Pyreos sensors in products from flame detection to recording vehicle exhaust emissions.
The three-day Society of Photo-Optical Instrumentation Engineers (SPIE) Photonics West Exhibition is the world’s leading photonics, laser and biomedical optics conference, attracting 1,300 companies supplying the photonics industry and more than 20,000 visitors.
Dr David Armstrong, product manager from Pyreos who will be attending the show, said: “What sets Pyreos apart from its competitors is its technology – its sensors work in the mid infra-red spectral range, which allows them to detect the ‘fingerprints’ of chemicals and other substances instead of just their ‘shadows’, which is all that many competitor devices do because they operate in the near infra-red spectral range.
“It’s important for our business to showcase our products to the US market, where we have ambitions to triple our existing turnover during the next two years.”
The company is based at the Scottish Microelectronics Centre at the University of Edinburgh, where it benefits from a high specification cleanroom and has developed new technology for producing its patented sensors.
The technology used by Pyreos was developed by German industrial giant Siemens, which invested €10 million (£7m) and 75 man-years of research to create the sensors.
Pyreos was then spun out from Siemens in 2007 to industrialise and commercialise the technology by developing the sensors for use in a broad range of markets. The company has been awarded over 130 patents to protect the intellectual property it has created so far.
Siemens remains one of Pyreos’s main shareholders, alongside Robert Bosch Venture Capital, Braveheart’s Strathtay Ventures, the Scottish Investment Bank, and Seraphim Capital. Each investor backed the company during its latest fundraising round in March 2015, during which it raised £2.5m.
E n d s
Issued on behalf of Pyreos by Beeline PR. For further information, please contact Debbie Byers on 0131 466 2282 / 07990 570 220 or firstname.lastname@example.org