The Company and Our Investment

Metrasens Ltd is a technology business specialising in metal detection products for the healthcare and security markets. Metrasens was founded in June 2005 by two former QinetiQ employees. Its core technology was developed within QinetiQ, with which the business maintains strong links, and as a result, is able to take advantage of over 20 years experience at the forefront of magnetics and metal detection technology.

The Ferroguard® MRI detection system provides both visual and audible alarms when ferromagnetic material is detected near MRI units. Preventing this type of material from entering MRI rooms can increase safety and decrease potential costs as it reduces the likelihood of injuries and damages caused by projectiles in MRI units. With an established global market need for the Company's Ferroguard® MRI product, early indications suggest that the worldwide market could be worth in excess of £1.1 billion, particularly due to tighter regulation of MRI facility design, combined with President Obama's reforms to reduce the cost of healthcare in the US, and the tougher economic environment.

Funding will also help the company build sales of its FG1 Portable Security Pole designed for multiple niche applications, such as street knife detection operations by police forces.

"This is an exciting stage in the development of Metrasens. The investment will enable us to implement our ambitious plans for growth. The experience that comes alongside the investment from Octopus will ensure that Metrasens can successfully deliver on the planned expansion in the US medical market and further develop its
product lines into the security sector."

Simon Goodyear, CEO, Metrasens