Galway based space tech company Mbryonics have announced that they have been approved for a recommended investment of €17.5m from the European Innovation Council (EIC ) Accelerator.
The €17.5 million investment will allow the company establish a significant manufacturing, assembly, and testing facility for optics and photonics in the west of Ireland over the next five years. The company also plan to focus their efforts on innovative freeform optics and photonic integrated circuits manufacturing techniques, leading to advancements in process efficiency, supply chain management, and sustainability.
John Mackey, CEO, Mbryonics said: “This award from the European Innovation Council (EIC ) along with the ongoing support from Enterprise Ireland and the Irish European Space Agency (ESA ) will fuel our efforts to expand our advanced optical and photonic integrated circuit manufacturing capabilities in the West of Ireland.”
Part of the EU’s Horizon Europe 2021-2027 Research and Innovation Programme, the European Innovation Council (EIC ) Accelerator Programme is Europe’s flagship innovation programme and it provides grant funding of up to €2.5 million combined with an equity investment ranging from €0.5 to €15 million in a blended finance offer. Enterprise Ireland leads the National Support Network for Horizon Europe which includes supporting Irish deeptech companies to compete and win funding in the highly competitive EIC funding programmes.
Leo Clancy, CEO, Enterprise Ireland said, “Mbryonics is an exciting deep technology company at the leading edge of its industry and this award recognises that excellence. Ireland’s overall success in the Horizon Europe EIC programme, supported by Enterprise Ireland in our National Contact Point capacity, shines a spotlight on the innovation and capability of Irish companies to compete on a global level. This funding provides the critical support required to enable these innovative companies to develop and scale their businesses.”
