Maritime technology provider secures investment
A 5G maritime technology firm has secured £500,000 of investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF).
Birmingham-based JET Connectivity, aims to meet the industry-wide demand for 5G enabled activity at sea. CIOSIF, managed by The FSE Group, as well as UK based and international private investors, has awarded the investment to help JET Connectivity establish itself as a national player in the UK.
The company in total has received £1m and also hopes to open a new facility in Cornwall and begin the rollout of its proprietary mesh network prior to a follow- on equity raise to secure a capital rollout fund.
The technology firm is working to deliver cost effective and resilient 5G communications and data transmission technology for the emerging industry sectors of the marine environment including aquaculture, offshore renewables, port/shipping operations, and defence/security.
The solution is delivered through world-first 5G connected floating and self-powered buoy platforms. The platforms are fitted with JET’s proprietary 5G routers and user equipment, which enables pop-up network capabilities within any applied maritime industry.
This network delivers secure, high-speed communication capabilities, continuous multi-sensor monitoring, data collection and edge processing, tailored to end-user requirements.
James Thomas, JET Connectivity CEO, said: “High-speed connectivity at sea saves lives, protects our environment, and ensures stable growth of the blue economy. Existing infrastructure cannot support the collection and transmission of data required by marine industry 4.0 applications, which is where our technology comes in.
“This CIOSIF investment comes at a pivotal moment in our growth journey as we create strong foundations for our next stage of development. In FSE we have found a well-networked funder, experienced in supporting early-stage businesses, that can add value as we grow our Cornwall presence to help deliver large infrastructure support projects, such as floating windfarm communications in a sustainable manner.”
JET will be employing maritime specialists in Cornwall, with the expertise that the area has to offer being pivotal for the company’s growth in the offshore renewables, environmental and port sectors.