Press Releases
DeepStream Technologies announces launch of first product
April 2008
DeepStream Technologies, the intelligent sensor company, has announced that it is to begin manufacturing its first products. The company has signed a deal worth $16m with Moeller, the world-renowned supplier of industrial automation and distribution equipment components.
Under the terms of the deal, DeepStream has developed a custom digital residual current measurement component for Moeller, using DeepStream’s proprietary 3D shaped circuit technology. The component, the first in a number of projects, is designed for use inside the world’s first fully digital residual current device (RCD), under Moeller’s Xpole product ranges.
The new digital RCD will be the most advanced and accurate device in the marketplace and will carry the DeepStream brand mark. The device will represent a significant milestone in the development of such products, as it is the first time digital intelligence has been embedded within it, bringing RCDs into the digital age. DeepStream’s proprietary 3D shaped circuit technology has overcome historic constraints of product topology and the hostile electrical arcing environment to make this possible.
DeepStream and Moeller produce the first digital RCD devices which bring with them a host of advantages, including improved accuracy, reduced nuisance tripping and additional features such as those that inform users of the status of the protection device, either locally or remotely. The new product range featuring this digital RCD technology is being announced at the Frankfurt Light + Build show, and includes both RCBO and RCD devices.
The deal comes after DeepStream recently re-organised its business, expanding its management team and creating two distinct business units: Solutions, to provide technology design solutions for clients; and Components, to manufacture the 3D components in its high value manufacturing facility in N Wales.
Earlier this month the company also announced that it was launching a drive to recruit 30 new engineering staff during 2008. Mark Crosier, chief executive officer, DeepStream Technologies, said: “This development with Moeller marks a major milestone in our progress as a company and is a strong validation of the potential of our technology. We believe this demonstrates that we are on track to achieve our ambitious growth targets for 2008, and we expect this deal to be the first of many tie-ups with OEMs we will announce throughout this year.”
For Moeller using DeepStream’s technology offers significant advantages over the existing products already on the market. These will play an important part in the products developed in future, too. Having witnessed the benefits the technology has over traditional 2D technologies such as printed circuit boards (PCBs), it obviously presents promising possibilities in developing and enhancing new and existing market-leading products. Moeller and DeepStream look forward to a continuing joint working relationship on future projects.
Founded in 2004 and backed by investment from 3i and Doughty Hanson, DeepStream Technologies hired its 40th employee in September 2005 and has nearly doubled in size since then. It was voted Start-up of the Year at Elektra 06, the European Electronics Industry Awards and given the prestigious accolade of a World Economic Forum Technology Pioneer in 2007.
For more information please contact:Peter Marcus Citigate Dewe Rogerson+44 (0)207 282 2987/peter.marcus@citigatedr.co.uk
About DeepStream Technologies
DeepStream Technologies, the intelligent sensing & control Company, designs and manufactures system level component solutions, using a proprietary 3-Dimensional shaped circuit technology, for Tier 1 global equipment manufacturers (OEM’s). Launched in 2004 and voted the Start-up of the year at Elektra 06, the European Electronics Industry Awards,
DeepStream’s embedded intelligent components enable the creation of next generation products with embedded energy management, efficiency control and enhanced functionality for the energy, building automation, industrial control and appliance markets.
Mark Crosier, DeepStream’s CEO, is a WEF Technology Pioneer and in June 2007 won the Ernst & Young north region Science & Technology Entrepreneur of the Year award. Headquartered in Bangor, North Wales, DeepStream has research, development and high volume manufacturing facilities at the same location. The company has secured both private and public funding from organisations including Doughty Hanson Technology Ventures, 3i, HSBC and the Welsh Assembly Government.
