OCE looks towards US market following Chinese investment
7 September 2018 | 0
OCE Technology has secured a €200,000 investment from Zhuhai Orbita Aerospace Science and Technology, a Chinese company listed on the Shenzhen Stock Exchange.
The investment will help fund OCE’s expansion into the US market where earlier this year it first introduced its products at the Space Tech Expo Tradeshow.
Headquartered at NovaUCD, OCE develops software for technical applications and supplies radiation-hardened chip-level components targeted primarily at the space and high-reliability sectors.
Barry Kavanagh, CEO, OCE Technology, said: “This investment from our manufacturing partner will help to grow our sales activities in the US where there is a huge opportunity in the fast growing small satellite market.”
Dr Yan Jun, executive chairman, Orbita, said: “We are delighted to have the opportunity to share in OCE’s success and its growth and expansion into new markets.”
OCE operates in Europe, Korea, Japan, Singapore and China through a network of distributors. Supported by Enterprise Ireland the copmany also supplies a range of satellite subsystems including power supply and attitude control units.