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Irish Independent, June 7, 2002

Eblana raises €1.6m in new funding

by Samantha McCaughren

Laser Communications company Eblana Photonics has raised €1.6m in a new round of funding bringing total funding raised in just over 12 months to €3.6m.

The company is a spin out from Trinity College, the Irish National Microelectronics Research Cente and Enterprise Ireland, who are all shareholders in the compnay.

Other investment in the Dublin-based company comes from Irish and US private equity sources.

The new funding comes from ACT Venture Capital and Enterprise Ireland, both of whom are increasing their stakes in the company.

John Flynn, partner at ACT Venture Capital, said: "We anticipate that Eblana will become a key player in the global broadband access communications services market, which is only now beginning its roll-out."

Eblana's technologies allow for the economic manufacture of high performance laser components for mass market communications.

These products enable the provision of high bandwidth communication services over fibre optic cable to mass business and consumer markets.

Eblana currently employs 12 people and will grow its team over the next six months with a focus on the recruitment of engineering, product development and sales/marketing staff.

James O'Gorman, ceo Eblana Photonics said: "With this latest funding we will begin moving our products from development into manufacturing and onward into the market."

last updated Friday, 21, April, 2006   |   copyright © 2005 Eblana Photonics Ltd.