Melbourne company raises finance
Wednesday, 12 September, 2001
Future Fibres has raised $5 million to allow the company to expand its fibre optic sensing equipment into the US.
CPH Investment and the Seafirst Group, both existing shareholders, raised $1.5 million and JB Were's Private Equity Fund took out the remaining $3.5 million, according to Future Fibre Technologies managing director, Edward Tapanes. "We're extremely pleased with this development and will use the money to kick-start our move into the North American pipeline market," Tapanes said.
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