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Posted: Fri, October 24, 2008
Welsh technology firms unveils expansion plansDespite the global credit crunch, one Welsh technology business is planning to almost double its workforce.According to DeepStream Technologies, the development of its site at Parc Menai Technology Park will include a new purpose-built facility. The Bangor-based firm, which makes technology to monitor energy use, is planning to create as many as 70 new jobs. Mark Crosier, DeepStream chief executive, said: "These announcements are part of the ambitious growth plans we have for the next couple of years and demonstrate our intention to establish ourselves as a successful hi-tech manufacturing firm and a major employer in the north Wales region." Founded five years ago, Gwynedd company DeepStream is an energy management technology company that provides hardware and software solutions to embed digital intelligence into existing electrical equipment and infrastructure for energy conservation. In April this year, Moeller, a global supplier of industrial automation and distribution equipment components, was announced as DeepStream Technologies' first client, signing a £10 million product development and supply agreement with the Welsh firm. 
© Adfero Ltd
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