An optical systems engineering company is growing in Nova Scotia.
Metamaterial Technologies Inc. (MTI), which was founded in London in 2010, has signed an agreement with Nova Scotia Business Inc. (NSBI) to expand its global business in Dartmouth.
“We are thrilled to be growing our business from Nova Scotia,” said George Palikaras, president and CEO of MTI, who moved to the province with his family just over two years ago. “There were multiple factors to take into consideration when we decided to expand our business, and we found that Nova Scotia met all of our requirements. With a thriving aerospace and defence ecosystem, the way has already been paved for us to develop our platform technology and export our products to our global clients.”
MTI must create at least five full-time equivalent positions in the first year. The company can then earn a rebate on payroll for up to 90 new positions over the next six years.
If MTI creates 90 new jobs, the company would add $29,359,500 in salaries and employees would pay provincial personal income taxes of about $3,800,000. As a result, the company can earn up to $2,482,793 in payroll rebates through NSBI’s Strategic Investment Fund.
MTI is the first company in the world to develop and commercialize large-scale metamaterial thin-films, which can block, enhance or absorb light. MTI’s subsidiary company, Lamda Guard, has created award-winning metaAIR that protects flight crews from laser interference in the flight paths of jetliners, helping to prevent pilot disorientation and injury. According to the Federal Aviation Authority, there were 3,960 aircraft laser strikes in the U.S. in 2013, an average of 11 per day.
The company has been working in partnership with Airbus to test its thin-film technology and bring the product to the commercial aviation market. Production techniques will be tested in partnership with Airbus.
“We aim to add young Nova Scotians to our workforce as well as attract talent from all over the world,” said Maurice Guitton, MTI board chair. “MTI is creating new positions that are globally unique which have recently emerged from our scientific breakthroughs.”
“MTI is an example of Nova Scotia Business Inc. helping companies grow domestically and internationally, proving Nova Scotia is an attractive place in which to invest, work and do business,” said Laurel Broten, NSBI president and CEO.
(Source: NSBI )