HALO X-ray Technologies secures investment from Midven and the Midlands Engine Investment Fund to accelerate commercialisation
The funding from Midven and the Midlands Engine Investment Fund will support product development and create twenty jobs in Nottingham.
HALO X-ray Technologies develops patented next generation X-ray diffraction technology designed for material scanning and security applications. The firm was established by Nottingham Trent University and Cranfield University.
HALO X-ray Technologies has secured investment from Midven and the Midlands Engine Investment Fund to support its commercialisation efforts and accelerate product development. The new financing will enable the Nottingham-based firm to create twenty engineering and software development roles over the next three years. Established in 2012 by Nottingham Trent University and Cranfield University, the company focuses on deploying advanced X-ray diffraction systems across sectors such as aviation security.
From the founder
"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."
Simon Godber
CEO at HALO X-ray Technologies
Investor perspective
"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."
Roger Wood
Director, Midven
Use of funds
- 01Grow the team
- 02Continue product development
Investors
About the company
HALO X-ray Technologies
HALO X-ray Technologies develops advanced X-ray scanning systems for security and inspection applications.