Even for a company specialising in cutting-edge radar technology, Limerick company Arralis could hardly have seen the past week coming.
The technology company which designs and manufactures high-frequency semiconductor chips for the aerospace and security sector yesterday followed a major EU funding announcement last week with two big-time sales contracts.
Two Chinese companies have awarded contracts worth a combined $1.45m (€1.29m) to Arralis with the contracts signed as part of the Ireland China Conference led by Enterprise Ireland and Jobs Minister Richard Bruton in Beijing.
“The fact that both these contracts are in one of the most dynamic and high growth aerospace markets internationally means this is another significant milestone for Arralis.
It is further endorsement that our technology has worldwide and varying applications,” Arralis chief executive Barry Lunn said.
Beijing Bluesky Aviation Technology will use Arralis high-definition technology to develop a system which will enable commercial helicopters to land blind in poor visibility caused, for example, by dust clouds.
The system can also be used to detect obstacles that become difficult to identify in bad weather such as overhead lines which conventional radar cannot identify.
Alternatives like infra-red and laser are equally ineffective given that they can’t be used in extreme conditions.
The technology Arralis will provide the second company, Sino TekCo, will be used to develop a system of radars for debris detection and bird tracking at Chinese airports.
Meanwhile, the Irish Venture Capital Association called on the Government to ensure bright, young companies are not tempted to locate in the UK by addressing what it terms the “major personal and capital tax imbalances” between the two countries in the upcoming budget.
Association director general Regina Breheny was speaking as the group released figures showing Irish technology companies raised €307m in the first half of 2015.
That represents an increase of 45% on the same period last year with more than €187m raised in the second quarter.
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