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Image source, Cornwall Council
The company has received £600,000 of government funding to add to £200,000 of its own money to fund facility upgrades
A Cornish company using space technology has secured a £600,000 investment to support further growth.
Secure Innovation has secured £600,000 from Cornwall Council’s Good Growth Programme, funded by the government’s Shared Prosperity Fund.
The company employs more than 100 people at its factory in Cornwall.
The firm uses satellites to track people and valuables, such as money, for its customers around the globe.
The business said it expected to create about 20 jobs over the next few years.
Working with the European Space Agency (ESA), the tech company has developed a low earth orbit satellite system called Remote Planet, which can track, monitor and protect people, cash and assets – anywhere on Earth.
Net zero drive
The company, based in Saltash, said the £600,000 investment would allow it to expand its operations, meet growing global demand for its products, and reinvest in the local economy and community.
The money – along with £200,000 from the company, will be used to fund a new automated stores system and in-house machining facilities, allowing existing space to be repurposed to grow production capacity.
The company said a key part of the project was the drive towards net zero emissions, with the installation of solar generation, electric vehicle charging points and new staff welfare facilities to encourage cycling to work.
Martin Pascoe, business support director at Secure Innovation, said: “This investment allows us to take full advantage of our partnership with ESA and continue to grow the global market, while working towards net zero and enhancing the health and wellbeing of our staff.”
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