GTT announces it has taken a minority stake in the Norwegian technology start-up Tunable AS, via a €6.4 million investment round co-led with TRUMPF Venture, with the participation of the company's existing shareholders.
Tunable AS designs and manufactures compact multi-gas analysers based on MEMS technology, combining micro and nanotechnology with infrared spectroscopy, according to GTT's release. The sensors developed by Tunable identify and analyse multiple gases simultaneously and provide, in real time, fast, reliable and accurate measurements.
Tunable's technology has already established itself in exhaust gas measurement and fuel gas analysis on ships. Tunable has started to work with GTT to design, commercialise and implement boil-off gas composition and emissions monitoring systems for maritime applications, thereby contributing to emissions reduction and improve the operational efficiency of the shipping industry.
Beyond its shipping applications, Tunable is also developing new fields of application for its technology, including, for example, air quality and workplace environment or detection of explosive or hazardous gases.
TRUMPF is a high-tech company offering manufacturing solutions in the fields of machine tools and laser technology. The company drives digital connectivity in manufacturing through consulting, platform products and software. TRUMPF Venture extends the TRUMPF Group’s comprehensive activities to promote innovation and to detect disruptive technologies and business models early on.
The corporate venture capital unit invests globally in early-stage start-ups whose activities are complementary or adjacent to the TRUMPF core business, such as advanced photonics and smart-factory solutions.
Tunable AS is a Norwegian based technology company located in Oslo with proprietary gas analyser technology.