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Press Release 29 Aug 2013

Minister for Social Protection, Joan Burton TD, welcomes FAZTech Research Ltd significant investment in a newly created research centre in Dublin.

FAZTech Research Ltd. is majority owned by Fugro NV, a Dutch multinational company, which is investing in the Republic of Ireland for the first time
. Supported by Fugro, FAZTech has over the past 2 years built up a Photonics R&D centre in Dublin which has quickly grown to currently employ 26 staff. IDA Ireland is supporting the company as it continues its research and growth in Ireland.

Over 2013/2014 further investment and anticipated roll-out of first products will drive further growth that could lead to a doubling of staff over this time frame. The company expects rapid development in the area of optical and photonic technology for sensing and measurement applications and solutions, and foresees further strong growth for the centre as a result.

Research and development is of strategic importance to Fugro. Its global market position is, to a great extent, dependent on the use of high-value equipment, technologies and software. Fugro is investing and supporting FAZTech Research Ltd as its global centre for the development of next generation optical and photonic technology for sensing and measurement applications and solutions. Sensing technology is critical to Fugro and the proposed technology development represents a step change and a major shift away from current mechanical and electronic technology.

FAZTech Research Ltd is to be located in Park West, Dublin, and will involve wide partnerships with industry and academic partners within Ireland, the EU and the United States and is expected to lead to world class, highly differentiated intellectual property, know-how and products.

Projects in the pipeline also include collaboration with the Beaufort Laboratory UCC located at the IMERC Campus in Ringaskiddy, the National Sensor Centre in DCU, Tyndall Research Institute in UCC, the Eindhoven Technical University and the University of Central Florida. Research is focussed on the development of a core optical sensing platform and sensor technology to measure a range of physical parameters such a temperature, pressure, flow and strain. The applications of this research will offer competitive advantage in energy, infrastructure, and marine transportation industries. It is expected that further research will open up opportunities in other markets.

Minister for Social Protection Joan Burton TD, said: “I greatly welcome the decision by Fugro NV to establish this cutting-edge research centre in Ireland. This is a very significant announcement and demonstrates once again Ireland’s strengths as a hub for innovation, research and development. The potential for partnerships across industry and the education sector is particularly exciting, given the crucial role of innovation in the development of jobs and sustainable economic growth.”

Paul van Riel, Chairman of the Management Board and CEO of Fugro, speaking at the announcement said “We decided to locate in Ireland as key intellectual property was developed in Ireland by Irish researchers and engineers, the vision and enthusiasm of the current workforce and the outstanding professionalism and support by IDA Ireland.”

Speaking at the announcement, Tim Fritzley CEO of FAZTech added “Support from national and European research agencies in terms of both infrastructure and funding, is crucial to the success of the research centre. I wish to acknowledge the outstanding contribution of BMSA Technology who guided the board of FAZTech leading to today's announcement and who will provide strategic advice to the company over the next 5 years. I am excited by the reaction from the marketplace to this photonic sensing area, where Ireland is in a lead position.”

Minister for Research and Innovation Sean Sherlock TD said, "FAZTech is a great example of how Ireland’s investment in the European Space Agency is assisting a growing number of Irish high tech companies in supporting technology innovation, leading to export sales and increased employment. I want to congratulate FAZTech, who have been supported by the European Space Agency with the assistance of Enterprise Ireland, in securing a number of key contracts with a combined total value of €1.3million and helping to create additional employment.  With today’s announcement by Fugro, I wish the company every success with their new owners in bringing its highly innovative solutions to the market and in continuing its impressive growth over the past two years".

Barry O’Leary, Chief Executive of IDA, said: “Today’s announcement by FAZTech Research Ltd is a welcome boost to Ireland’s technology and innovation ecosystem. It provides further proof that Ireland is a highly attractive location to carry out sophisticated research and development initiatives. IDA Ireland looks forward to working with FAZTech Research Ltd in the future.”

About Fugro
Fugro collects; processes and interprets data related to the earth’s surface and sub-surface and provides advice based on the results. As an extension to these activities, Fugro provides services such as precise positioning, construction materials testing, and data management. Fugro’s operations are organised into four divisions: Geotechnical, Survey, Subsea and Geoscience.  Fugro is listed on Euronext Amsterdam and is included in the AEX-Index. Fugro has approximately 12,000 employees in more than sixty countries.  Further information at www.fugro.com


Further Information
FAZTech
Tim Fritzley, CEO FAZTech, +353 1 620 4700

IDA Ireland
Fidelma Geraghty, Media Executive, +353-1-6034127

 

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