StockMarketWire.com - ClearStream Technologies Group has received approval for grant funding of just over 1m from Enterprise Ireland.

The funding, which may be drawn down over the next three years, will help finance a range of growth projects and includes research and development funding, an employment grant, management training and funding for a new management position of chief technical officer.

CEO Andy Jones said: "We are delighted to receive this continued support from Enterprise Ireland.

"We are currently embarking on phase two of the expansion to our production capacity to meet the growing demand for the latest generation of our products.

"The grant will undoubtedly help us in achieving our ambitions for continued growth and improved margins over the next three years.

"In particular, we intend to seek out new technologies and invest in further R&D for the future and we expect the newly created position of CTO to be key to this growth."



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