Minister for Social Protection, Joan Burton TD, has welcomed FAZTech Research Ltd's significant investment in a newly created research centre in Dublin.

FAZTech Research Ltd. is majority owned by Fugro NV, a Dutch multinational company, which is investing in the Republic of Ireland for the first time. Supported by Fugro, FAZTech has over the past two years built up a Photonics R&D centre in Dublin which has quickly grown to currently employ 26 staff. IDA Ireland is supporting the company as it continues its research and growth in Ireland.

Over 2013/2014, further investment and an anticipated roll-out of first products will drive further growth that could lead to a doubling of staff over this time frame. The company expects rapid development in the area of optical and photonic technology for sensing and measurement applications and solutions, and foresees further strong growth for the centre as a result.

Research and development is of strategic importance to Fugro. Its global market position is, to a great extent, dependent on the use of high-value equipment, technologies and software. Fugro is investing and supporting FAZTech Research Ltd as its global centre for the development of next generation optical and photonic technology for sensing and measurement applications and solutions. Sensing technology is critical to Fugro and the proposed technology development represents a step change and a major shift away from current mechanical and electronic technology.

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FAZTech Research Ltd is to be located in Park West, Dublin, and will involve wide partnerships with industry and academic partners within Ireland, the EU and the United States and is expected to lead to world class, highly differentiated intellectual property, know-how and products.

Projects in the pipeline also include collaboration with the Beaufort Laboratory UCC located at the IMERC Campus in Ringaskiddy, the National Sensor Centre in DCU, Tyndall Research Institute in UCC, the Eindhoven Technical University and the University of Central Florida. Research is focussed on the development of a core optical sensing platform and sensor technology to measure a range of physical parameters such a temperature, pressure, flow and strain. The applications of this research will offer competitive advantage in energy, infrastructure, and marine transportation industries. It is expected that further research will open up opportunities in other markets.

Joan Burton TD, said: "I greatly welcome the decision by Fugro NV to establish this cutting-edge research centre in Ireland. This is a very significant announcement and demonstrates once again Ireland's strengths as a hub for innovation, research and development. The potential for partnerships across industry and the education sector is particularly exciting, given the crucial role of innovation in the development of jobs and sustainable economic growth."

(CD/JP)