iRed in the black as it turns over £1m
The infrared and drone specialist iRed has recorded a turnover of £1m for the first time – after a 300% revenue increase in 2018.
The company based in Emsworth, near Portsmouth, Hants, is a pioneer in infrared technology and provides training for a variety of industries.
It employs around 20 staff and was hailed by MP Alan Mak for helping create a modern, future-focused economy.
Originally iRed concentrated in the construction and electrical sectors, but has diversified into other areas including equine thermography, agriculture, drones and solar energy.
It has also forged close links with the University of Portsmouth and is collaborating with academics and students on new concepts and technologies.
Ray Faulkner, managing director, said: “Our strengths have been in embracing new technologies and applying them to a wide range of commercial sectors. Our turnover has increased year on year and we have recruited strategically, adding staff with skills that help us push forward.
“We also became a DJI enterprise dealer in 2017 which has given us a boost. We have invested in research and development and are forging links with a number of industries in which our products and skills can be utilised. The future is exciting as technology is advancing quickly and we are determined to be at the forefront of it.”