A Galway company is set to become one Europe’s leading firms in the commercial space and aerospace markets after securing €1.9 million worth of contracts to develop new technologies for space launchers and satellites.
Minister for Enterprise, Trade, and Innovation, Batt O’Keeffe TD, made the announcement this week that ÉireComposites Teoranta in Indreabhán, Co Galway, has secured the contracts with the European Space Agency (ESA ) and will now employ three new engineering graduates to work on the project.
ÉireComposites Teoranta won the contracts to develop technologies for next-generation space launchers and satellites with the support of Enterprise Ireland. The company’s technology is in the design and processing of advanced lightweight composite materials that can be used in aircraft, wind turbines, automotives, and spacecraft. The ESA contracts will allow the company to develop the lightweight materials to withstand extreme temperatures, pressures, and turbulence, and at the same time reduce spacecraft weight and the launch costs.
The Government invests €14.5 million annually in the ESA which enables firms to bid for technology development contracts. Over the past decade, the ESA has helped 50 Irish firms get contracts worth €60 million.
Announcing the contracts in Galway, Minister O’Keeffe said: “The success of ÉireComposites Teoranta in securing these ESA contracts shows how small rural Irish companies can compete with other players by focusing on innovation and human capital. A growing number of high-tech firms are emerging in the space technology sector and Ireland is developing a strong reputation for bringing advanced innovation to the space programme.”
Joint managing director of ÉireComposites Teoranta, Dr Conchúr Ó Brádaigh, said: “Winning ESA contracts is an important factor in developing our company’s technical capabilities and it will position the company to grow in both the space and aerospace market. With the support of Enterprise Ireland and Údarás na Gaeltachta, I am looking forward to developing EireComposites into one of Europe’s leading firms in the commercial space and aerospace markets.”
Meanwhile, the Western Development Commission (WDC ) has launched a new initiative as part of its LookWest.ie programme to help enterprises export their products and services to the greater Philadelphia and mid-Atlantic region in the United States.
The initiative will help business owners and entrepreneurs from the west to exploit opportunities for expansion in the potentially lucrative US market while retaining the talent and employment in the region. It is also expected that the initiative will see increased employment as a result of the growth in exports.
For more information on the initiative log onto www.lookwest.ie
