Optics11 Secures €25 Million EIB Debt for Fiber-Optic Monitoring Expansion
Optics11 has secured a €25 million venture debt agreement with the European Investment Bank to enhance the research, development, and commercialization of fiber-optic monitoring technologies for underwater and high-voltage grid infrastructure. This financing, part of the InvestEU program, aims to improve platforms that detect vibrations and acoustic signals in harsh environments, thereby providing early warnings for subsea cables and pipelines. Meanwhile, Greece is preparing for offshore exploratory drilling in the Ionian Sea and south of Crete by 2026, supported by Energean, ExxonMobil, and Chevron, to tap into significant natural gas reserves.
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Optics11 signed a €25 million venture debt agreement with the European Investment Bank to enhance R&D and commercialization of fiber-optic monitoring technologies for underwater and high-voltage grid infrastructure. The financing, under the InvestEU program, aims to advance platforms detecting vibrations and acoustic signals in harsh environments, providing early warnings for subsea cables and pipelines.
Optics11 plans to broaden adoption of its technology across Europe, with a focus on protecting vulnerable infrastructure. Concurrently, Greece is preparing for offshore exploratory drilling in the Ionian Sea and south of Crete by 2026, backed by Energean, ExxonMobil, and Chevron, targeting significant natural gas reserves.
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