BANK OF IRELAND KERNEL CAPITAL VENTURE FUNDS
Arralis continue global market expansion with $1.45M Chinese Contracts
Signing between Arralis Aand Sino Tekco
From Left: Barry Lunn, CEO, Arralis; Wang XiaoKang, Chairman, CECEP; Richard Bruton, T.D., Minister for Jobs, Enterprise & Innovation; Paul Kavanagh, Irish Ambassador to the People's Republic of China & Ma Jian Zhong, CEO, Sino TekCo.
Limerick, September 29, 2015:
Since Kernel’s investment in Limerick-based Arralis in 2014, the Company have met many milestones in their international market expansion. The most recent being their deal with Chinese companies, Beijing Bluesky Aviation Technology and Sino TekCo worth $1.45M to improve airspace safety using Arralis’ cutting-edge radar technology.

Minister for Jobs, Enterprise & Innovation, Richard Bruton, T.D. made the announcement during the Ireland China Conference in Beijing organised by Enterprise Ireland.
“Arralis is a great example of an innovative, export-focused Irish company with a world-class product offering. Their success in securing these contracts demonstrates the quality of their technology and innovation. Supporting innovative young Irish companies is a key part of the Government's Action Plan for Jobs and today's announcement is another example of what is possible for ambitious Irish companies willing to invest the time and effort in growing sales to China.”
Richard Bruton, T.D. Minister for Jobs, Enterprise & Innovation

This announcement follows Arralis’ recently success in received €1.12M funding through the European Commission's Horizon 2020 programme which will see Arralis commercialise their ground-breaking radar technology. Our dedicated initiative to ensure our portfolio companies maximize this superb source of funding has now seen nine of our portfolio companies benefit from over €40m of Horizon 2020 and other EU funding programs.
“We congratulate all of the team at Arralis on their tremendous success and are delighted to support innovative Irish technology companies such as Arralis through the Bank of Ireland Seed Fund. This is another validation which shows our companies building strategic commercial relationships with some of the world’s leading players.”
Dawn Walsh, Marketing Manager, Kernel Capital

Headquartered in Limerick with its research team based in Belfast, Arralis is a developer of world-leading expertise in radio frequency, micro and millimetre-wave technology. Arralis’ technology is used in both global and space environments where accuracy and reliability are critical.

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For further information please contact:
Dawn Walsh, Kernel Capital.
Tel: +353 21 4928974


Notes to Editors:

About Kernel Capital www.kernel-capital.com
Kernel Capital is manager of the Bank of Ireland Kernel Venture Funds and with its associate life science investment firm Seroba Kernel has in excess of €235m under management in venture capital funds, investing in ICT, Life Science and general seed and early stage investments. These Funds are supported by Bank of Ireland, Enterprise Ireland, Invest NI, University of Limerick Foundation, NUI Galway Foundation and a range of other financial institutions including public and private pension funds and a family office. The Bank of Ireland Kernel Capital Venture Funds portfolio of 80+ companies employ almost 1,200 people in Ireland and have been granted over 150 scientific patents. Kernel Capital and its 40% owned associate firm Seroba Kernel are committed to dynamic, innovative, knowledge based companies and recognise that it is an exceptional time for investment.

Bank of Ireland Seed and Early Stage Equity Fund
Bank of Ireland Seed and Early Stage Equity Fund is a €32m Fund and part of the €235m suite of Bank of Ireland Kernel Capital Venture Funds that invests and early stage and growth stage companies. This Seed and Early stage Fund has a focus on export orientated high potential start-up companies that operate in the technology (including green technology), food and financial services sectors, in addition to supporting patent and patent pending projects within Irish universities. It is managed by Kernel Capital on behalf of Bank of Ireland, Enterprise Ireland, University of Limerick Foundation and NUI Galway Foundation.
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