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METAS awarded with NOK 4 millions by Regional Research Fund

Today the BTO spin-out company METAS (Marine Ecosystem Technologies AS) was awarded NOK 4 millions by the Regional Research Fund with purpose to further develop acoustic equipnet to uncover subsea gas leakage. "We are pleased and humble for receiving funds for this exiting and challenging project", says CTO and founder Terje Torkelsen to the newspaper Bergens Tidende today. METAS has experienced a rapid growth since establishment June 2009, having expanded their product portfolio extensively and managed to renerate revenue of NOK 14 mill the first 6 months this year.

Extensive product portfolio
METAS develops and manufactures underwater devices which use acoustic sensors for monitoring the subsea environment concerning presence and location of biomass (e.g. zooplankton or fish), sediments, or pollutants (e.g. oil spill). In addition, sensors for temperature, water pressure, salinity, and current speed can also be integrated. METAS managed to manufacture and deliver products to their first customers only a few months after company was established. This quick delivery was possible due to the initial development of the current product portfolio at the Institute of Marine Research. Now the product portfolio comprises is quite a few.

Read more about their product on www.metas.no

International market – local value creation
The products are produced and manufactured in the Bergen region, with local suppliers for most of the parts needed. This is a result of the METAS ideology and business strategy to support local business.

“ Core of our business idea is value creation for the region: to support local business and contribute to create new regional employment opportunities. This is very important for me personally”, says founder and researcher Terje Torkelsen

METAS has already had an impact on local industry; some of their suppliers have been able to avoid employee layoff during the challenging times after the finance crisis, due to orders from METAS.

Read the article in Bergens Tidende 1. oktober 2010  (Norwegian) (no longer available)