The UK developer of new binary actuator technology has raised new finance to fund its expansion plans.
Camcon will use the £500,000 investment capital to boost the size of its R&D team and build new research laboratories.
Cambridge-based Camcon is working on a range of potential applications for its actuator, which it claims can control gases and liquids with extreme precision but needs only tiny amounts of electrical power.
The actuator consists of a sprung armature held in place by one of two magnets. An electromagnetic coil is used to momentarily disrupt the magnetic field, allowing the spring to catapult the armature to the other magnet where it is again held in place.The device can be driven by a single battery over a long period because about 80 per cent of the energy needed to operate the actuator is supplied by the spring and the magnets, according to Camcon.
The company believes its system has the potential to replace conventional actuators and valves for a wide range of applications.
It recently unveiled a valve designed for the oil industry that uses the actuator to move from the open to closed position.
Other applications being explored for the technology include vehicle engine management, aircraft noise reduction and medical dosage control.
Part of the new investment cash will be used to double the size of Camcon’s workshop and set up dedicated laboratories for specific industries.
Camcon raised the money from Hit & Run, the company that manages the interests of Phil Collins and Genesis.
The ageing rockers are regular investors in emerging technology ventures. They have also backed Cambridge Display Technology, a UK company developing light-emitting polymers which was previously run by Camcon’s chairman Danny Chapchal.