27 March 2024 – Galway based space tech company Mbryonics today announced that they have been approved for a recommended investment of €17.5m from the European Innovation Council (EIC) Accelerator.
Mbryonics is at the forefront of transforming satellite communications, datacoms, and 5G wireless sectors through cutting-edge wireless optical transport and Coherent Photonic-Optical (CPO) transceiver technologies, ensuring high-speed, secure communication infrastructures in space, air, and on land.
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.
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.
The EIC Accelerator Programme provides transformational funding to high-potential, high-risk start-ups, scale ups and SMEs led by a strong, well-balanced leadership team which are already making good progress in commercialising highly differentiated, deep-tech products capable of creating new markets or disrupting existing ones.
Minister Neale Richmond said: “Mbryonics is an innovative and exciting Irish tech company that is driving the disruptive technology agenda. The recent support from the European Innovation Council (EIC) underscores Mbryonics’ leading position in the field of advanced optical communications technologies and highlights the critical role Irish innovation is playing in securing European technological independence in space, photonics, and manufacturing. The investment secured is a testament to the innovation and dedication of the Mbryonics team. I would like to congratulate John on this investment and wish Mbryonics every success as the business continues to grow.”
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.”
This period marks an exhilarating phase for Mbryonics, as our StarCom optical terminal is set to launch in 2025, supporting a client’s development of a space-based quantum internet. Additionally, the US government has chosen StarCom to facilitate a space-based internet linking government satellites with various commercial satellite networks, including Starlink and Kuiper, showcasing the impact of our team’s decade-long commitment and effort”, he continued.
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 and I wish Mbryonics every success for the future.”
