LONDON Braveheart plc has invested £2 million ($3. 85 million) in infrared sensor development startup Pyreos Ltd (Edinburgh, Scotland) in partnership with Siemens unit Siemens Technology Accelerator (STA) and the Scottish Venture Fund.
Pyreos was formed in July 2007 and has been assigned patented IP relating to infrared sensor materials and devices from Siemens AG (Munich, Germany). The German conglomerate is continuing to help Pyreos manufacture and commercialize an initial range of infrared sensor array products.
Pyreos said the funds would be used to expand technical and commercial developments as well as for capital equipment for product prototyping and manufacturing development.
The initial devices will be targeted at the growing demand for improved motion detection, infrared camera and spectroscopy products. Pyreos claims its passive infrared sensor arrays "offer performance advantages over current infrared technology at an attractive price point."
The company adds several OEMs and system integrators are testing samples of the devices.
To date, Pyreos has been backed by the company founders and by STA, which commercializes technologies generated within Siemens.
There is an IP transfer agreement in place between Pyreos and STA and the transfer of the technology will take place over the next year.