Powervation, a Limerick based semiconductor manufacturer is set to create 150 new jobs over the next two years following a lucrative market move that now sees them supplying major communications manufacturers.
The jobs will be created following the development of a new chip that will allow manufacturers achieve up to 30 per cent energy efficient gains as well as a 50 per cent increase in transient response.
The Limerick headquartered company has offices in California, China and Cork and currently employs 35 people worldwide where 25 are based in Limerick.
Formed in 2006, Powervation has had the backing of major investors from both home and abroad following its inception back at the Circuits and Systems Research Centre at the University of Limerick.
Antoin Russell, Powervation chief executive, said that the “company was due to go into full production shortly.”
Commenting on the team that backed the project, Russell added; “It was a collection of individuals in the research community in Limerick who were able to work together and blend their creation into something that was truly unique. That research goes back seven years, so there’s no such thing as an overnight success.”
Crediting the thirst for knowledge through the internet, Russell explained; “The applications for Powervation’s technology are very broad. We are very fortunate in the fact that broadband isn’t going to go away and the appetite for bandwidth and interconnectivity, thanks to Facebook, YouTube and Twitter, is going up. There will be a growing need to improve the energy efficiency of the systems they run on.”
