01 Aug 2013
Provider of laser test equipment set to create 15 jobs at Northern Ireland base thanks to European support.
Yelo, the electronics test equipment firm based in Carrickfergus, Northern Ireland, says that 15 new jobs will be created as it sets about a £1 million expansion.
Thanks to financial support from Invest Northern Ireland (Invest NI), Yelo’s three year expansion project includes a £241,000 investment in research and development that is designed to enable Yelo to expand its product line and target new export business.
Invest NI has offered Yelo more than £230,000 of support, partly funded by the European Regional Development Fund, towards the project.
Among Yelo’s products are laser diode test systems, for which the company says that it recently secured new contracts worth more than £500,000. Last year, it acquired the laser test and burn-in systems business unit that previously belonged to Canada-based Telops.
Welcoming the investment following a visit to the company, Jeremy Fitch, Invest NI’s executive director of business and sector development said: “Yelo has established an impressive track record in international markets as a leader in the development of electronics testing and measurement equipment.”
“As a result of its focus on innovation for global markets, this ambitious and progressive small business now exports over 80 per cent of its equipment to high-end customers in strategically important industries.”
“Yelo’s investment, including expenditure on R&D, will help to further enhance its position as an innovator particularly in photonics. The 15 high quality electronics and software engineering jobs to be created over the next three years will help meet the growing global demand for its innovative technology.”
David Simms, the company’s sales and marketing director, said: “The business that we’ve been winning from major corporations in the US and China shows that we can compete in these challenging markets because of the quality of our systems and the professional services that we currently provide.
“The investment we are making, with financial support from Invest NI, is designed to strengthen our competitiveness and to build on our reputation, especially in the photonics market. Our objective is to double turnover by 2016.”
Among Yelo’s existing clients are the optics firm Kaiam Corporation, which provides components and modules for applications in video streaming, smart phones and cloud computing.
Yelo’s product lines includes automated laser reliability, burn-in and life testing and qualification systems, with the company also selling test equipment for advanced components such as photonic integrated circuits (PICs).