Future bright at Colour Secure.
NEW jobs are to be created in North Wales with the expansion of a company which has developed a security technology using specially-designed inks to create a "colour" signature similar to a bar code.
Salisbury-based Colour Secure currently divides its operations between a base in Salisbury and an office at the opto-electronics Technium OpTIC at St Asaph Business Park.
The company says it wants to relocate the entire business to the business incubator and technology centre later this year once it has completed a refinancing package.
It says the move will mean new jobs at the Welsh site but it cannot yet specify how many.
Company chief executive Garry Forster said the small colour signature just 7mm by 2mm was authenticated using a reader about the size of a housebrick that could identify an original object and distinguish it from a fake copy.
The signature could be applied to any paper-based printed products such as high value tickets, ballot papers, cheques and bearer bonds.
"We are talking to a couple of prospective customers and are in the process of refinancing the business which will enable us to fully establish it at the OpTIC and roll out the product," he said.
"St Asaph is an ideal base for a small fledging business such as ours because of the facilities the OpTIC has and the fact that our reader is an optoelectronics device.
"The technium is geared up to deal with this sort of business and can offer facilities and equipment which we would struggle to provide ourselves.
"Later this year we will move the operation to the OpTIC to commercialise the product which has yet to be fully marketed."
Colour Secure was the winner of the Most Innovative Business Idea category in this year's Technium Challenge competition, an annual business contest for high growth technology start-up and spin-out companies that attracted 30 entries from across the UK.
All companies that enter the competition get professional help and support to develop their business plans in order to turn their bright ideas into commercial propositions.
The OpTIC - built with the help of EU Objective 1 money -can support up to 24 young technology business start-ups.