For immediate release: 16 March 2016
HALO X-ray launches funding round at Venturefest 2016
HALO X-ray Technologies (HXT) launches a seed funding round coincident with a presentation on the main stage of Venturefest, 16 March 2016. This new funding will support the business as it continues to expand commercial operations and develops the first products for the aviation security market.
HXT is currently being funded under a £2.7m U.S. Department for Homeland Security (DHS) award as part of a collaboration with Nottingham Trent University (NTU) and Cranfield University (CU) under Broad Agency Announcement (BAA) 13-05.
HXT will continue to develop core technology and accelerate development of new products. Seed funding at this time will ensure commercial operations keep pace with new opportunities as the relationship with all major sponsors continues to develop.
HXT was formerly based on the NTU Clifton Campus, where advanced X-ray facilities, combined with funding from a variety of sources, enabled prototype testing to prove the capability of the technology. HXT will continue the close working relationship with research teams at NTU and CU and seek to develop additional X-ray test facilities at CU Shrivenham Campus as part of on-going plans to develop and expand commercial operations.
Dr. Simon Godber, HXT Director and Chief Executive Officer will lead the business through this period of rapid growth:
“HXT expansion of our business operations and our continued relationship with major sponsors of our technology will be further enhanced by securing seed funding at an appropriate level to support further business growth. We look forward to working with key investors as we develop the business and new products through this exciting period of growth.”
FURTHER INFORMATION: haloxray.com or firstname.lastname@example.org.
NOTES FOR EDITORS
HXT is a spin-out company from the Imaging Science Group at Nottingham Trent University and the Cranfield Forensic Institute at Cranfield University, pioneering the development of advanced, real-time, X-ray diffraction techniques and systems in aviation security, medical systems and industrial process control.
Simon Godber, CEO, HALO X-ray Technologies Ltd. Phone: +44 115 860 2236