Actuator pioneer to expand development facility
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Camcon Technology product story
Edited by the Engineeringtalk editorial team
Jan 14, 2004
Camcon Technology has raised GBP 500,000 investment from Hit and Run, the management company that maintains the interests of Genesis and Phil Collins.
Camcon Technology, the inventor and developer of the Camcon binary actuator, has raised GBP 500,000 investment from Hit and Run, the management company that maintains the interests of Genesis and Phil Collins.
Camcon has developed a ground breaking digital actuator that enables gases and liquids to be controlled in an extremely precise manner using minute amounts of electrical power.
The company is working with industrial partners on a range of applications including engine management control, noise reduction for jet aircraft and deep-sea oil and gas extraction.
The new investment will enable Camcon, which is already profitable, to increase the size of its workshop facility at its Harston site, near Cambridge from 195 to 350m2 and develop dedicated labs for each of its industry partners.
The company will also increase its development team by 50% from 9 to 15 staff during the first half of 2004.
Hit and Run has a strong track record in backing early stage technology startups and typically manages 8 to 10 investments at any one time.
It provided angel funding for Cambridge, UK based polymer display firm Cambridge Display Technology and Vari-Lite, a US developer of stage lighting and audio systems.
Further initial investments were made in Belland, a Swiss company specialising in recyclable plastics, and FMS, a company at the forefront of development of pumps and instruments used in arthroscopic surgery.
"Camcon is only just beginning to appreciate the range of applications and worldwide market opportunity for the digital actuator.
This investment provides the financial flexibility for Camcon to invest in additional workshop facilities and development staff", said Wladyslaw Wygnanski, inventor of the Camcon binary actuator and Managing Director, Camcon Technology.
"Hit and Run backed Camcon's chairman Danny Chapchal when he was Chief Executive of light emitting polymer developer CDT and subsequently brought a successful exist for investors.
Like CDT, Camcon has developed a fundamental technology which has a worldwide market potential", said Robin Moore, Managing Director, Hit and Run Management.
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