26th August 2020
WHAT PROBLEM IS EVINCE TECHNOLOGY SOLVING?
Today’s modern x-ray machines are highly sophisticated systems, but they all still rely on a 150-year-old piece of technology to generate those x-rays. Technology that
harks back to another North East invention – the electric filament lightbulb.
Evince as part of its journey to realise a completely new form of electronic devices, based on synthetic-diamond, has found a way to generate x-rays at levels of precision and efficiency not possible with existing methods.
This same technology is also expected to have transformative impact on a diverse range of other applications such as satellite propulsion, 3D additive manufacturing and 5G/6G communications.
Gareth Taylor, founder and CEO of Evince Technology, said: “After four years of intensive development we are now poised to deliver the first major new class of electronics since the 1960’s. And like any radically new technology, our first products will solve the major limiting problem at the core of many ultra-high value markets such as x-ray systems.”
NETPark-based Evince Technology has raised £525,000 through private investment and Innovate UK match-funding in a move which will see it further develop its pioneering technology.
This new investment will help the firm develop demonstrators that will pave the way to a pilot product launch in 2021. The fundraise includes £375,000 of new equity from private investors, which has been matched with £150,000 of Innovate UK grant funding awarded through the Regional Angel Investment Accelerator (RAIA) programme (delivered in partnership with Innovation Supernetwork, North East BIC and UKBAA).
Jordan Dargue, investment director at NorthInvest and Innovate UK Fund Lead, said: “We’re delighted to support Evince Technology in securing this funding. Evince is yet another successful example of the world-leading technology businesses that exist in the north of England that the RAIA programme with Innovate UK is enabling to grow and flourish.”
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